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SEPA Credit Transfer - SCT

See: SEPA payment instruments.

SEPA Direct Debit - SDD

See: SEPA payment instruments.

SEPA Instant Credit Transfer - SCT Inst

See: SEPA payment instruments.

SEPA payment instruments

The SEPA project currently includes four types of instruments (credit transfers, instant credit transfers, direct debits and payment cards); these are standardized basic services to which intermediaries can add other functions. In the context of the European Payments Council (EPC) (see EPC) the SEPA Credit Transfer Scheme Rulebook, SEPA Direct Debit Scheme Rulebook and SEPA Instant Credit Transfer Rulebook were produced, which describe the interbank rules, practices and standards for credit transfers, direct debits and instant credit transfers respectively. A set of principles, rules and guidelines was drawn up for payment cards and detailed in a specific document known as the SEPA Cards Framework. Newly issued payment cards have been compliant with SEPA standards since 1 January 2008 which, among other things, envisage the use of microchip technology; the SEPA credit transfer was introduced on 28 January 2008, the SEPA direct debit on 2 November 2009 and the SEPA instant credit transfer on 21 November 2017. As provided for in Regulation (EU) No 260/2012, in 2014 the domestic procedures for credit transfers and direct debits were replaced by the corresponding pan-European schemes.


A retail payment system owned by EBA Clearing (see EBA Clearing). It was established in 2003 to process intra-EU cross-border credit transfers; in 2006 the provision of services was extended to domestic credit transfers exchanged between some Italian banks participating in the system. The system has been dealing with SEPA credit transfers (see SEPA) since 28 January 2008, with SEPA direct debits since 2 November 2009 and with SEPA instant credit transfers since 21 November 2017. The technical infrastructure for processing submitted payments is provided by SIA (see SIA).