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

Picture of Model for Intrabankgroup transfer

On-us transactions – Intrabankgroup

In the previous article on-us transactions were introduced and we looked at them at the level of one bank. In this article, we continue our analysis of on-us transactions but considered now at bankgroup level. In a wider sense on-us transactions occur when the originator bank and the beneficiary bank are separate entities but belong […]

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Picture of Model for intrabank transfer

On-us transactions – Intrabank

On-us transactions represent a significant part of transactions processed by banks. They can be classified in two groups: Intrabank and Intrabankgroup transactions. The word Intra is a prefix meaning “within something, inside something, on the inside”. An intrabank transaction is a transaction exchanged inside or within the same bank. An intrabankgroup transaction is a transaction […]

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Image of Messages exchange periods in the Interbank Space

Exchange periods of the SCT messages

As we saw in a previous article, the SEPA Credit Transfer Rulebook obliges the scheme participants to exchange exception messages (the r-messages) during specific timeframes in the interbank space. The scheme does not say how many days before settlement a credit transfer can be forwarded to the clearing system. In the customer-to-bank space, the scheme […]

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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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