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

Secrets to understand Payment Market Infrastructures – Sweden part 1

Is there a secret to easily understand payments systems in any country?  Do you know the payment market infrastructures of your country and how they are structured? This is the first of a series of videos where we will examine payment market infrastructures of a few countries in the world. And we begin with Sweden. …

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Differences between SEPA, SWIFT and UK Faster payments

When you begin your journey in payments, you can easily feel overwhelmed because of the many types of payments and payments systems available out there. How to easily understand what they are and how to differentiate them? In this article, we revisit one key concept and explain the differences between SEPA Payments, UK Faster Payments …

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International Bank Account Number

IBAN number: definition, structure and checker

The IBAN number or simply IBAN (International Bank Account Number) serves as the unique identifier for the bank account in SEPA payments. Debtor and Creditor accounts must be provided therein in IBAN formats. But contrary to what many believe, IBANs are not used everywhere in the world as we will see below. This article begins with …

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ISO 20022 and The SEPA payments messages elements

SEPA Payments Schemes, Instruments, Initiatives and Messages standards

Simply put, SEPA payments are pan-European payments instruments in Euro, created as results of the SEPA project whose aim is to harmonize standards and practices for electronic and cash payments across the SEPA area. The SEPA area consists of 34 countries out of which some do not use Euro as local currency. If you are …

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Focus on SCT beneficiary bank messages in the interbank space

In this article, we will look at all the messages exchanged by the beneficiary bank in the interbank space. If you are starting your journey in SEPA, you will think immediately that is the bank that receives credit transfers. And that is true. Yes it receives the credit transfers. But it does much more that. …

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