SEPA Credit Transfer
A standardised payment

The benefits of SEPA Credit Transfer:
  • Standardised format
  • Fast payment
  • Same cost as former local payments
  • Unique end-to-end reference
  • Easy to track

Using SEPA Credit Transfer, a company can send a payment which incorporates a unique customer identification (end-to-end reference). This reference can then be used in areas such as back-reporting which makes it easier to track the payment.

  • The currency must be euro
  • It must be a commercial payment – either to a company or a private individual
  • We strongly recommend that the beneficiary's bank shall be in BIC format (Bank Identifier Code). BIC will still be mandatory in Denmark, Lithuania, Norway, Poland, Sweden and UK until 31 October 2016. BIC will be optional in Estonia, Finland, France, Germany, Latvia and Luxembourg and the Netherlands as from 1 February 2014.
  • The beneficiary’s IBAN (International Bank Account Number) must be stated
  • The division of fees must be SHA (shared)

File format – ISO 20022 XML
ISO 20022 XML is a file format for electronic messages which is used worldwide. It is also the file format which is used within SEPA. In association with the migration to SEPA, the local file formats used in all euro countries will disappear. ISO 20022 XML is a requirement for all outgoing SEPA payments sent via file.
File formats


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