SEPA Credit Transfer (SCT) Scheme

SCT scheme ensures customers can make electronic payments to any customer located anywhere in the SEPA zone using an IBAN and a uniform set of standards, rules and conditions.

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What is SEPA Credit Transfer?

A SEPA Credit Transfer is a non-urgent euro payment debiting a euro account and crediting another euro account in the SEPA zone.
The International Bank Account Number (IBAN) must be used as the unique identifier for the receiver’s bank, branch and account.

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What is the SEPA Credit Transfer (SCT) Scheme?

The SCT scheme is an inter-bank payment scheme defining a common set of rules and standard procedures for credit transfers in euro.

The SCT scheme ensures customers can make electronic payments to any customer located anywhere in the SEPA zone using a single bank account (IBAN) and a uniform set of standards, rules and conditions.

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SEPA Credit Transfer File Formats

In order to make bulk payments using the SCT scheme, customers must be able to generate a file that is compatible with the SEPA standard. Download the SCT file specification

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Becoming a SEPA Credit Transfer Originator.

As an iBB customer, you can apply to make SEPA Credit Transfers. To do this, simply complete the Payment Files Credit Transfers - Application and Amendment Form and return it to your Relationship Manager to discuss further.

Credit Transfer Software Providers

Useful Business Guides / Forms



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