Credit Transfers

The SEPA Credit Transfer Subsystem

The SNCE SEPA Credit Transfer Subsystem allows participating entities to send and receive credit transfers between payment accounts, ordered and received throughout all SEPA area.

The SEPA Credit Transfer Subsystem is fully compliant with the SEPA Credit Transfer Scheme Rulebook (SCT) of the European Payments Council (EPC) and the messages exchanged are those included in the Data Interface for SEPA Transfers of the SNCE, which is also based on the EPC SEPA Credit Transfer Scheme Interbank Implementation Guidelines.

To provide participating entities with full reachability in the SEPA area, Iberpay offers interoperability links with EBA Clearing's STEP2 service and with the European Automated Clearing House Association (EACHA) to exchange SEPA Credit Transfers to and from any country in the SEPA area.

Key figures

The credit transfer is the payment instrument with the hightest total value in the SNCE and the one that has registered greatest growth in recent years.

The SNCE offers three different types of credit transfer processing: Instant Credit Transfers, with real-time settlement and instant availability of funds to the beneficiary, and ordinary SEPA Credit Transfers with settlement on the same day, or the following day (D and D + 1, respectively).

Of the total credit transfers processed through the SNCE, as of January 2024, 37.9% correspond to credit transfers with settlement D + 1; 8.5 % correspond to credit transfers with settlement in D and 53.6% were processed in real time (Instant Credit Transfers).