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

Treasury transfer

A treasury transfer is the transfer of money between two bank accounts belonging to the same company or group…

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

SEPA

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

Direct debit order

A direct debit order is an instruction to a bank to debit an amount due from a specific bank account.

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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Find all our definitions in the Glossary section.

SCT

SCT