Archive | Credit Transfers

Schemes and standards for funds transfers in different countries of the world. SEPA Credit Transfer, Domestic Transfer, Interbank systems, Multilateral clearing, Real-Time Gross Settlement

Camt messages for customer reporting in the Customer to Bank Space

Camt messages for customer reporting in the Customer to bank space

The EPC recommends three messages for the customer reporting. The bank can use one or many of them, according to client’s needs, to provide account reports, account statements and debit/credit notification. It is important to understand that these reporting messages are for customers which can integrate and process them in own IT systems. They are […]

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Picture of SEPA message

Keys to understand the SEPA messages names

A SEPA message name consists of four letters and a series of numbers. Pacs.008.001.02, Pacs.004.001.02 or Camt.056.001.01 are examples of messages names used in the SEPA Credit Transfer scheme. You may wonder when you see Pacs.008.001.02, why do we have the numbers 008.001.02? And is there any meaning behind? The purpose of this article is […]

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Picture of Direct and Indirect Participants to a CSM

Direct and Indirect Participants to Clearing and Settlement Systems

Banks can join a clearing system or a settlement system as direct participant (DP) or as indirect participant (IP). After reading this post, you will understand the differences between these two types of participants and why only direct participants settle in CSM. The following figure depicts direct and indirect participants and the relationship they have to […]

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