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Product Update 406: SEPA Credit Transfer and Direct Debit formats introduced to several countries

In this product update, the SEPA PAIN format for SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) has been introduced to various countries.

SEPA Credit Transfer (SCT)

The SEPA PAIN format PAIN.001.001.03 for the SEPA Credit Transfer (SCT) has been introduced for the following countries:

By default, Mixed will be displayed at Transaction grouping under the SEPA credit transfer section under the Settings tab in the Cash instrument screen (see Creating and maintaining cash instruments – Settings tab).

The following is an example of a SEPA direct credit file:

The SEPA Direct Debit (SDD) functionality with the latest PAIN format PAIN.008.001.02 has also been introduced for the following countries:

The SEPA direct debit section under the Settings tab in the Cash instrument screen (see Creating and maintaining cash instruments – Settings tab) will be displayed if the SEPA direct debit check box is selected.

The following is an example of a SEPA direct debit file:

Note: The SEPA SCT and SDD files will only be generated for the debtors and creditors, and not for cash instruments.

For more information, see the following release notes:

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