SEPA XML Bulk File Submitter Direct Debit and Credit Transfer
Regulatory Changes 2017
During 2017 there are two key payment regulation changes which must be considered for processing of SEPA Direct Debit and SEPA Credit Transfer payments.
- Regulation (EU) 2015/847 European Parliament and Council Proposal for a Regulation on information accompanying transfers of funds (Funds Transfer Regulation).
- EPC 2017 SEPA Rulebook Changes.
Creditors should check with their IT Department/Software providers with regard to the changes outlined below. For further information Creditors should contact our Business On Line Customer Care team by emailing business.online@boi.com or call 1890 818 265.
1. Funds Transfer Regulation
From the 26th June 2017, it is mandatory under the Funds Transfer Regulation that the following information is provided for successful processing of your cross border payments.
| Direct Debits |
The Debtor Address is mandatory in the PAIN.008 file for any payments where the Debtor Bank is located in the following Non EEA Countries/territories |
- Switzerland
- San Marino
- Monaco
- Mayotte
- Jersey
- Guernsey
- Saint-Pierre-et-Miquelon
- Isle of Man
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| Credit Transfers |
The Originator Address is mandatory in the PAIN.001 file for any payments where the Beneficiary bank is located in the following Non EEA countries/territories |
- Switzerland
- San Marino
- Monaco
- Mayotte
- Jersey
- Guernsey
- Saint-Pierre-et-Miquelon
- Isle of Man
|
Please be aware that from the 26th June there is a risk the payments may be rejected if the relevant address information is not provided.
If you are not sending or planning to send payments to the countries provided in the list above, then no action is required. However, you may need to make your IT/Software provider aware of this regulation.
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2. SEPA Rulebook Changes
Support of EPC File Specifications:
From the 19th November 2017, all Banks are obliged to accept the European Payments Council (EPC) Customer to Bank SEPA Scheme File Specifications for both Credit Transfers PAIN.001 and Direct Debits PAIN.008 files.
Bank of Ireland will continue to accept the existing File Formats.
| Direct Debits |
From the 19th November, Bank of Ireland will accept the EPC File standards for both Direct Debit and Credit Transfer files in addition to continuing to accept the existing Bank of Ireland PAIN.001 and PAIN.008 File formats.
Minor amendments will be made to the existing published Bank of Ireland File Specifications to align with the EPC Standards. The amended File Specifications and XSD will be published on the Bank of Ireland website in advance of November – date to be confirmed. |
| Credit Transfers |
From the 19th November, Bank of Ireland will accept the EPC File standards for both Direct Debit and Credit Transfer files in addition to continuing to accept the existing Bank of Ireland PAIN.001 and PAIN.008 File formats.
Minor amendments will be made to the existing published Bank of Ireland File Specifications to align with the EPC Standards. The amended File Specifications and XSD will be published on the Bank of Ireland website in advance of November – date to be confirmed. |
There is no obligation for creditors to move to the EPC File Formats as existing Bank of Ireland file formats will continue to be supported. Therefore, there is no action required for customers who do not want to submit SEPA files to Bank of Ireland in the EPC defined file format.
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