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SEPA

SEPA

SEPA is the Single Euro Payment Area set up by European institutions in 2002 to simplify and harmonize payment procedures in Europe. SEPA members can make national or cross-border transfers and direct debits in any of the 36 SEPA member countries in less than 48 hours.

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BIC

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

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SCI

SCI stands for SEPA Creditor Identifier. All creditors wishing to issue SEPA direct debits must have an SCI enabling them

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SCT

SCT stands for SEPA Credit Transfer. It enables payments to be made in euros in the 36 member countries of

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ISO 20022

International standard used for the exchange of financial data (payments, direct debits) between companies and banks, or between financial institutions.

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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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