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EPC updates SEPA Instant Credit Transfer rulebook

Monday 31st October, 2022

The European Payments Council (EPC) has published version 1.1 of the 2023 EPC SEPA Instant Credit Transfer rulebook.

The first change (compared to version 1.0) is the amended coming into force time of the 2023 SCT Inst rulebook which is now set at 03:30 CET on 19 November 2023.

The second change is a SEPA-wide 30 minutes downtime period for the SCT scheme from 03:00 CET up to 03:30 CET. During this downtime period, no single SCT Inst instruction, transaction, r-transaction, transaction investigation and any response message related to them will be possible across SEPA. According to the EPC.

The EPC decided upon these changes to help all SCT Inst scheme participants and their SCT Inst service-supporting technical partners to make a smooth change-over from the 2009 version to the 2019 version of the ISO 20022 standard on 19 November 2023.

Up to 03:00 CET, all SCT Inst payment messages will be in the 2009 version of the ISO 20022 standard. As of 03:30 CET, all SCT Inst payment messages will be in the 2019 version of that same standard.

The EPC has also published version 2.0 of the guidance document on the migration to the 2019 version of the ISO 20022-based XML messaging standard.

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