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Credit Transfers

Schemes and standards for funds transfers in different countries of the world. SEPA Credit Transfer, Domestic Transfer, Interbank systems, Multilateral clearing, Real-Time Gross Settlement

Differences between SEPA, SWIFT and UK Faster payments

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When you begin your journey in payments, you can easily feel overwhelmed because of the many types of payments and payments systems available out...
International Bank Account Number

IBAN number: definition, structure and checker

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The IBAN number or simply IBAN (International Bank Account Number) serves as the unique identifier for the bank account in SEPA payments. Debtor and Creditor...
ISO 20022 and The SEPA payments messages elements

SEPA Payments Schemes, Instruments, Initiatives and Messages standards

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Simply put, SEPA payments are pan-European payments instruments in Euro, created as results of the SEPA project whose aim is to harmonize standards and...
Image of a Structure of the SWIFT BIC Code structure

SWIFT BIC Code

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The SWIFT BIC code is a standardized international identifier (ISO 9362) used in financial messages exchanges. Understanding what the BIC code is fundamental because it...
Image of Correspondent network

Strategy #2 to understand how cross border payments work

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In this article, we will look at the second strategy to understand how cross border payments work: Grasp the principles of Correspondent Banking and...

Focus on SCT beneficiary bank messages in the interbank space

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In this article, we will look at all the messages exchanged by the beneficiary bank in the interbank space. If you are starting your...

Focus on SCT originator bank messages in the interbank space

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Up to now, we have considered the messages exchanged in the SCT scheme between sending and receiving banks. In this article and the next,...
Picture of Model for Intrabankgroup transfer

On-us transactions – Intrabankgroup

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In the previous article on-us transactions were introduced and we looked at them at the level of one bank. In this article, we continue...
Picture of Model for intrabank transfer

On-us transactions – Intrabank

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On-us transactions represent a significant part of transactions processed by banks. They can be classified in two groups: Intrabank and Intrabankgroup transactions. The word Intra...
Image of Messages exchange periods in the Interbank Space

Exchange periods of the SCT messages

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As we saw in a previous article, the SEPA Credit Transfer Rulebook obliges the scheme participants to exchange exception messages (the r-messages) during specific...

Payment Market Infrastructures in the World...

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In the United Kingdom, Banks can join the Payment market infrastructures for the Pound sterling, but since UK belongs to the SEPA Area, UK...

Payment Market Infrastructures in the World...

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In our last videos, we spoke about the payment market infrastructures in Sweden. In today’s video, we will consider the payment market infrastructures of...

Credit Card Alternatives for Handling Large...

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Image: UnsplashFor a long time, people have relied on credit cards to help with the handling of major expenses. The idea is simply to...

Secrets to understand Payments Market Infrastructures...

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In the previous video, we explained how Payment Market Infrastructures are structured anywhere in the world while focusing on the example of Sweden. Swedish banks...