SCI

SCI stands for SEPA Creditor Identifier. All creditors wishing to issue SEPA direct debits must have an SCI enabling them to identify themselves by means of a unique identifier. The SCI is part of the data that must appear on mandates signed by debtors.

Related definitions

BIC

The BIC (Bank Identifier Code) is used to identify a financial institution in any international financial transaction. Each financial institution…

UMR

Stands for Unique mandate reference (UMR). It is a unique number enabling the identification of a direct debit mandate. The

STP (Straight Through Processing)

Straight-through processing (STP) is an automated transaction processing process that uses only electronic transfers, with no manual intervention, …

SEPA

SEPA is the Single Euro Payment Area set up by European institutions in 2002 to simplify and harmonize payment procedures

PSD2

PSD2 is a directive introduced by the European Parliament to harmonize payment regulations within the European Union.

SDD

SDD stands for SEPA Direct Debit. It enables the collection of payments in euros in the 36 member countries of

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