• How do I send a SEPA Credit transfer payment?

    SCT should only be used for non-urgent Euro payments. You will need to sign onto the LloydsLink offline service in the usual way and then all you will need to is:

    • Click on Payments 
    • Click on New icon 
    • Click on Payments batch then click OK 
    • Click on New icon 
    • Click on Euro tab 
    • Click on Euro MM then proceed as usual for Euro MM by inputting the payment data.

    For the payment to be processed as a SEPA SCT the input data must contain:

    Under General tab

    • Beneficiary Name
    • Beneficiary International Bank Account Number (IBAN)
    • Account to be debited
    • Value date
    • Currency and amount

    Beneficiary Tab

    • Beneficiary Bank SWIFT Bank Identifier Code (BIC)

    Other Tab

    • There must be no special instructions
    • Charges must be selected as option – “SHA”

    For the payment to qualify as a SEPA Credit Transfer the Beneficiary’s Bank must have confirmed participation to the SEPA Credit scheme, details of which will be maintained by European authorities and a register will detail eligible addresses for SEPA Credit payments. This is known as SEPA reachability. If your nominated SWIFT BIC does not have SEPA reachability the payment will be sent as a Euro MM and your previously agreed tariff for this payment will be applied.

    The value date is next day (D+1) provided we have received a correctly formatted instruction before cut off

    Existing functionality for the creation and use of Debit Account libraries and Beneficiary libraries continues to be available but the content of Beneficiary libraries must include Beneficiary IBAN and Beneficiary Bank SWIFT BIC

    For any payments not meeting the SEPA Credit Transfer payment format, we will process as a Euro MM and your previously agreed tariff for this payment type will be applied.

    NB: To be able to make a Euro MM you need to provide SWIFT BIC and IBAN information. This functionality is only available if you have LloydsLink version 7.31 or later installed. If you require an upgrade please contact the Helpdesk.

     

10/28/2021 10:34:04 PM