There is now a field within SEPA XML GENERATOR related to SEPA Credit Transfers (SCT) which is ‘Payment Types’. So, what are Payment Types? Do I need to populate this field in order to create a credit transfer SEPA file? And if so what format should be used and what are the advantages of using the Payment Types?
What Are SEPA Payment Types?
Within the SEPA XML GENERATOR platform, we have two options as default:
- Normal Payment
- SEPA Credit Tansfer
This informs the Bank the type of transfer, the default selection is Normal Payment, however the system allows you to enter your own Payment Type.
And the SEPA xml file will include this code in this format:
The user must select SEPA Credit Transfer from the pull down in order to generate Payment Type code such as:
Enter Your Own Payment Type:
The platform allows a user to enter a Payment Type against a Customer within the system, see, the pull down option: ‘Enter a Payment Type’
It should be noted that the maximum characters allowed for a Payment Type is 140 – see the information bubble:
If you have any enquiries, reach out to the SEPA XML GENERATOR team and we will address any questions you might have. See our Contact Details here.