I'm using CODA for reconciliation purposes. Is there something changing ? Yes,
the reporting of SCT is following other rules, available under the format version ...
1.
SEPA CREDIT TRANSFER : FAQ ABREVIATIONS BBAN Basic Bank account Number BIC Business Identifier Code EPC European Payments Council ERP Enterprise Resources Planning EU European Union IBAN International Bank Account Number SCT SEPA Credit Transfer SEPA Single Euro Payments Area 0° GENERAL INFORMATION When do I have completed the migration process of the national credit transfers to the SEPA CTs ? End of domestic CT schemes in the SEPA area as from 1st Feb 2014 Has the SCT migration an impact on my ERP ? Yes, both on payment submission side as account statement reconciliation What if I am not ready for SCT on 1st Feb 2014 ? As you won't be able to pay your suppliers anymore, your business is clearly at risk Can I use SCT in another currency than EUR ? No Can I use SCT in countries for which the official currency is not EUR ? Yes, the SEPA zone includes all countries of the EU, plus Iceland, Liechtenstein, Monaco, Norway and Switzerland Are there restrictions for specific countries ? Yes, please refer to the following link : http://www.europeanpaymentscouncil.eu/knowledge_bank_detail.cfm?documents_id=328 It impacts mainly France, and to a certain extent United Kingdom (channel islands are not part of the SEPA zone) 1° PAYMENT SUBMISSION Is the IBAN mandatory from 1st of Feb 2014 ? Yes Is the BIC mandatory ? For a SCT in favour of a beneficiary account held with a Belgian bank: yes, but until 1st of Feb 2014, and if required by your bank For a SCT in favour of a beneficiary account held with a non-Belgian bank: yes, but until 1st of Feb 2016 What is the file format for SCT submission ? XML pain.001.001.03 : http://www.febelfin.be/sites/default/files/files/standard-credittransfer-xmlv3-en_2.pdf SEPA uses the UNIFI (ISO 20022) XML message standard Can I use pain.001.001.02 ? FAQ SCT_EN.docx
2. Yes, but please take into consideration that, with this version, the BIC is mandatory Where can I find the structure of the IBAN ? http://www.swift.com/dsp/resources/documents/IBAN_Registry.pdf Where can I convert Belgian legacy account numbers BBAN to BIC + IBAN ? http://www.sepabelgium.be/fr/bban-iban-bic-converter. Or contact your bank Where can I control the validity of an IBAN ? http://www.tbg5-finance.org/?ibancheck.shtml Does a central european IBAN-list exist ? No Where can I find an existing BIC ? http://www.swift.com/bsl/index.faces;DIRECTORIES=r22YRL4WbJnfTly2QhsJvLsMWhTTNjy01 f6Zf110Nd89ZppTQpbh!1332197574 What is the difference between a BIC and a SWIFT bank code/address There is no difference ! I'm using ISABEL. Is it supporting SCT submission ? ISABEL is fully compatible with SCT, for both manual submission as file upload 2° ACCOUNT STATEMENTS I'm using CODA for reconciliation purposes. Is there something changing ? Yes, the reporting of SCT is following other rules, available under the format version 2.3.a of CODA Format description: http://www.febelfin.be/sites/default/files/Payments/Standard-CODA-23EN.pdf Is ISABEL supporting the version 2.3.a of CODA ? Yes Can I use XML reporting instead of CODA ? Yes but please contact your bank for additional information
FAQ SCT_EN.docx
