SCT

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

Related definitions

Transfer order

A transfer order is given by the owner of a bank account, whether an individual or a company, to pay

SCI

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

ISO 20022

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

Deposit slip

The deposit slip is a document handed over by a client to his banker, as part of a deposit or

Direct debit

A direct debit enables a sum of money to be withdrawn automatically from the debtor’s bank account, as in the

SEPA

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

Need more information?

Find all our definitions in the Glossary section.

SCT

SCT