ISO20022 Messages in SCT

Customers and Banks exchanges different messages in SEPA Credit Transfer(SCT), so let us know which messages are exchanged in which space in this blog.

If you are new into the world of SEPA, then in short, a SCT is a type of SEPA payment, where debtor issues a payment order to it’s bank for transferring funds to creditor (via creditor agent bank).

Payment order can be issued by Individual Customers(retail) & also from Corporate Customers(business market). Mainly, ISO20022 messages are exchanged when payment orders are initiated from corporate customers. Here, messages are exchanged in Customer and Bank(C2B) space.

Primarily on receiving payment orders, bank validates and process the payment orders. As a next step, debtor bank sends order information to next bank or to Clearing and Settlement Mechanism(CSM).  Here, ISO20022 messages are exchanged in Financial Institution to Financial Institution(FI2FI) space, but these messages are different from those exchanged in C2B.

Now, let us see the messages exchanged in SCT and it’s details like version, usage, etc:

MessageISO FormatMessage VersionExchanged SpaceMessage Usage
pain.001ISO200223C2BCustomer Credit Transfer Initiation
pain.002ISO200223C2BCustomer Payment Status Report
camt.052ISO200222C2BCustomer Account Report
camt.053ISO200222C2BCustomer Statement
camt.054ISO200222C2BCustomer Debit Credit Notification
pacs.008ISO200222FI2FICustomer Credit Transfer
pacs.002ISO200223FI2FIPayment Status Report
pacs.004ISO200222FI2FIPayment Return, Inter-bank return credit transfer
camt.056ISO200221FI2FIPayment Cancellation Request
camt.029ISO200223,8FI2FIResolution of Investigation
camt.027ISO200226FI2FIClaim Non-Receipt
camt.087ISO200225FI2FIRequest to Modify Payment
pacs.028ISO200221FI2FIPayment Status Request

NOTE: Information above is as per SCT for the year 2019, refer latest specification for SEPA by EU

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