The credit transfer functionality for Single Euro Payment
Area (SEPA) has been further enhanced. The new enhancements are applicable to
all existing countries, and all currencies listed in the EPC of SEPA Scheme
Countries, except for the following four countries:
The following enhancements have been made to the credit
The credit transfer transactions for SEPA can now be grouped
by the Single option. By selecting this option, each transaction in the bank
payment file will be displayed in an individual payment information block.
This new option can be selected under the SEPA credit
transfer section, in the Settings tab of the cash instruments
A new generic bank payment file has been made available to
support both the European and non-Euro credit transfers. The generic bank
payment file will be able to generate the SEPA credit transfer (SCT) PAIN
format, PAIN.001, and will accommodate the following types of credit transfers:
In addition, a field has been added each in the cash
instrument screen, and in the offset bank account maintenance screen. These
fields allow users to define the code and bank identifier values.
The Clearance identification field has been added
under the SEPA credit transfer section in the Settings tab of the
cash instrument screen. It is optional to define this field, and it supports up
to 20 alphanumeric characters. The alphanumeric characters can only be defined
for the first five characters, followed by numeric characters. Whereas, when
numeric characters are defined, no alpha characters are allowed to be defined
at this field.
The Clearance identification field has been added in the
offset bank account maintenance screen. The behavior of this field is the same
as the Clearance identification field in the cash instrument screen.
For more information, see Product
Updates 414 and 413: Euro and non-euro transactions supported for the SEPA
credit transfer format PAIN.001.001.03 (all legislations).