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...
Pain messages in the Customer to bank space of SCT Scheme
Let me start by stressing out an important point about the EPC documents: the messages exchanged in the Customer-to-Bank space are recommended. It means that they are not mandatory. The Banks and their customers are not obliged to use them as they are specified in the Implementation Guidelines. And furthermore, a bank and his...
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...
The messages exchanged in the SEPA Credit Transfer Scheme
If you have read the previous articles, you should have a pretty good understanding of the Four Corner Model elements: the clearing and settlement systems and the end parties. After having studied these fundamental elements, let us now look at the messages exchanged in SEPA Credit Transfer Scheme between the different parties. We will...
End parties in the Four Corner Model – Large companies
In this post, we continue to explore the question who and what actually are the end parties in the Four Corner Model presented in a previous article. It is an important question because if we know these end parties and understand their needs, we can better understand the payment business. In fact, end parties...
End parties in the Four Corner Model – Associations and Non-governmental organizations (NGO)
In this post, we continue to explore the question who and what actually are the end parties in the Four Corner Model presented in a previous article. It is an important question because if we know these end parties and understand their needs, we can better understand the payment business. In fact, end parties...
End parties in the Four Corner Model – Small and Medium-sized Businesses
In this post, we continue to explore the question who and what actually are the end parties in the Four Corner Model presented in a previous article. It is an important question because if we know these end parties and understand their needs, we can better understand the payment business. In fact, end parties...
End Parties in the Four Corner Model – Private Customers
Who and what actually are the end parties in the Four Corner Model presented in a previous article? You may think of yourself if you possess a bank account. And that is right. Individuals however are only one type of end parties because banks have many types of customers: The private customer, the small...
