The SEPA (Single Euro Payments Areas) Credit Transfer (SCT) scheme allows an originator to initiate credit transfers to the beneficiary.
The direct participants are the following:
Originator
Originator's bank
Beneficiary
Beneficiary's bank
The originator and beneficiary must each hold an account with a payment service provider located within SEPA. The scope is limited to payments in Euro.
The indirect participants are the following:
Clearing and Settlement Mechanisms (CSMs) such as an automated clearinghouse
Intermediary Banks that offer intermediary services to originator and/or beneficiary banks
Copyright © 2007, 2016, Oracle and/or its affiliates. All rights reserved. Documentation build: 2.5.2016 10:21:45 [T1_1454696505000]