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Monday, 05 May 2014 13:59

Payment Transfer Formats

The strict observance of joint coordinated standards at overarching applications is an essential prerequisite for the smooth functioning in everyday application.

The corresponding standardised types of messages were developed by us with the co-operation of all Austrian banks. These types of messages are valid throughout Austria.

XML as a "data format" is on everybody's lips is an universal format for structured documents and data. Thereby, content, structure and depiction are separately defined from each other.

XML is "web-enabled", meaning it can be visualised in web browsers. Also desirable is usually the availabilty of a so-called Stylesheet (XSL), which makes longer XML-messages readable for the user.
Monday, 05 May 2014 13:58

Payment references

Special structurings were developed in order to pass on as many informations as possible in the box "Verwendungszweck" of a "Zahlungsanweisung".
For tax payments/postbar payments and EACT respectively, a standardised payment reference is necessary. For an unstructured "Verwendungszweck" 140 characters are valid, for a structured "Verwendungszweck" 35 characters.

Tax payment

The tax payment offers you the possibility to comfortably perform various levy payments to revenue offices. In the process, the informations about the particular levies and their amounts to the payee are passed on and helps the payee to match their payment unambiguously.
Special rules for the "Verwendungszweck" for tax payments are available   pdf here (422 KB) .

Postbar payment

The "Baranweisung" offers you the possibility to send money to a recipient who has no giro account.
Special rules for the "Verwendungszweck" for postbar payments are availavble pdf here. (467 KB)

EACT

The EACT (European Association of Corporate Treasurers) elaborated a structure via which the 140 characters of the text being available in XML-format for SEPA-transactions may be used for detailed reconciliations of invoice. The structure for the "Verwendungszweck" of EACT is available pdf here. (770 KB)

In this case, PSA offers you a service which can automatically detect the payment reference.

Monday, 05 May 2014 13:54

IBAN and BIC

Via IBAN and BIC, EU-bank connections are unitarily indicated for the enablement of automations of international payment transactions.

IBAN (International Bank Account Number)

The IBAN is the international ISO Standard (ISO 13616) for the complete depiction of an accounting connection. Depending on the specific country, the IBAN can include up to 34 digits. In Austria it contains 20 digits and is on bank cards, bank account statements and bills.

Structure of IBAN

The IBAN consists of the ISO country codes, a two digit test figure as well as bank information and the account number. With the help of the test figure it can be determined already on receipt of the order if the IBAN indicated is correct. The early detection of written or typed errors prevents the further transmission of incorrect orders. The Austrian IBAN consists of 20 alphanumeric characters. The first two characters represent the country code (AT), the next two are the check digits, followed by the former bank code and the account number.

Please do not try to calculate the IBAN of your business partner by yourself!

There is a high risk to create an incorrect IBAN. Remittances with an incorrect IBAN lead to expensive returns, the costs of which may be debited to your account by the bank. You can check the formal validity of a specific IBAN with our IBAN-Check.

BIC (Business Identifier Code)

The BIC is a worldwide standardised code for the identification of banks. It is also known as the SWIFT code. You can find out the BIC of your bank from the bank itself, from your bank statements or from the BIC Directory of S.W.I.F.T (Society for Worldwide Interbank Financial Telecommunication).

As of 1 February 2016, payment transactions may be initiated with IBAN only (BIC will no longer be necessary).

Monday, 05 May 2014 13:54

Card payment

Bank cards with payment function play an important role as part of SEPA. Hence unitary rules should be valid for all card payment transactions. These regulations refer mostly to the card payments which are already established in Austria such as getting cash from cash dispensers or paying a bill via debit card. Additionally, this framework includes unitary safety requirements (e.g.: EMW-Chip with PIN) for cards and terminals of card systems and the banking industry.

This procedure's aim is the abolition of the national alignment of European card payment systems and the enablement of a smooth cooperation of market participants, card holders, issuers, acquirers or merchants of card payment.

For quite some time, the Austrian market regarding the debit cards corresponds the SEPA-requirements.

Merchants already support this technology in numbers and offer a comprehensive network of chip-compatible payment devices ("Bankomatkassen").

Prospectively, you can enjoy with SEPA the same comforts in all European SEPA-countries. The debit card should be accepted everywhere, no matter in which European SEPA-country you are.

Monday, 05 May 2014 13:53

Business-to-Business Direct Debit

Since November 2009, an unitary European Direct Debit Scheme exists, the B2B Direct Debit. It may be used for EURO-payments in the inland as well as for EURO-payments within all SEPA-countries Europe-wide.

  • The B2B direct debit is validated only for companies
  • The B2B direct debit is final - no right of refund for the demanded amount.

Direct debits between companies may use both direct debit or B2B direct debit. B2B direct debits are final only with a valid mandate. Companies, liable to pay, are strongly recommended to submit the signed mandate to the house bank.

For the migration to the direct debit attention should be paid to the following:

  • Instead of account number and bank identification number of the debtor's house bank, the IBAN (International Banking Account Number) and the BIC (Bank Identifier Code) are used.
  • Application of a CreditorID at the creditor bank
  • Assignment of mandate references
  • Information to the debtor (date of migration, procedure, mandate reference, CID)
  • Definition of a due date; on this date the calling-in of the debtor's account happens.
  • One-off, first direct debits as well as recurrent direct debits shall be submitted at the latest 1 bank working days before ahead of schedule at the payer’s bank. Precise information about deadlines are available at your house bank.
Wednesday, 23 October 2013 09:21

Direct Debit

A direct debit is a transfer initiated by the payee, who is the recipient of the payment. Direct debits are often used for recurring payments, such as utility bills, but may also be used for one-off payments. In any case, direct debits require a pre-authorisation (mandate) from the payer.

The European Payment Council launched the SEPA direct debit schemes in November 2009, defining common rules and procedure for a core scheme (scheme for consumers and enterprises) and for business-to-business (B2B only) direct debit schemes. The latter is largely based on the core scheme, but includes specific fea-tures for payment solely between corporate entities.

Since November 2009 an unitary European direct debiting procedure exists. It can be used for EURO-payments inland as well as in all SEPA-countries Europe-wide.

  • The direct debit applies to both consumers and companies (not final).
  • The direct debit substitutes today’s common Austrian procedures (direct debit authority procedures/direct debit procedures)

Important for SEPA Direct Debit

  • Use of IBAN (International Banking Account Number) and BIC (Bank Identifier Code)
  • Creditors have to sign an agreement with their bank to process SEPA direct debits
  • Use of CID (Creditor Identification)
  • Use of mandate references (New mandates are required for the SEPA DD B2B scheme!)
  • When using the SEPA DD schemes, a due date has to be stated.
  • To ensure settlement at due date, creditors have to respect the following deadlines (arrival at debtor bank):
  • SEPA DD Core scheme
    • One-off or first DD: 5 days before due date
    • Recurrent DD: 2 days before DD
    • Option: 1 day before due date
  • SEPA DD B2B
    • One-off, first, recurrent DD: 1 day before due date
  • An objection period of 8 weeks persists for direct debits if a valid mandate exists. For unavailable/invalid mandates you can enter an objection within 13 months.
  • Furthermore, DDs have to be marked as “One-off“, “First”, “Recurrent” or “Last”.
  • The SEPA direct debit schemes distinguish between these debtor groups
  • SEPA DD Core (with refund right) for consumers and corporate customers
  • SEPA DD B2B (without refund) only for corporate customers
  • Technical adaptation of the internal system for the XML format
  • Since April 2013 there is a possibility to abbreviate the objection period: intra-Austrian direct debits may be submitted not later than 1 bank-workday before the due date at the bank. Precise informations about objection periods are available at your house bank.

Creditor Identifier (CID)

The Creditor Identifier is part of the EU-wide SEPA standardisation process. In the absence of a national identification code for direct debit schemes, CIDs are issued by the Austrian National Bank.


Wednesday, 23 October 2013 09:21

Credit Transfer

Credit transfer means a payment service where the "Zahlungsanweisung" is submitted by the payer to his payment service provider. Then, the amount stated on the "Zahlungsanweisung" is debited from the payer´s payment account and credited to the payment account of the beneficiary.

Improvements from the view of the customer

Electronic commissioning via online-banking: Prospectively, remittances will be performed by the input of IBAN and BIC in the online-banking-system. The IBAN as well as the BIC of the beneficiary are displayed on your bill.

Commissioning with receipt via "Zahlungsanweisung": Furthermore, transactions can be performed via "Zahlungsanweisung". On pre-printed "Zahlungsanweisungen" merely the own IBAN is required. This number is depicted on your bank card/online-banking and on your bank account statement. More and more companies provide in addition the possibility to pay via QR-code.

Main legal requirements

  • The IBAN (International Bank Account Number) is the only payment account identifier for the execution of national and cross-border credit transfer in euro within the EU.
  • The bank has to inform its customers about SEPA (technical and functional requirements)
  • The use of the ISO 20022 XML message format is mandatory between PSPs and for PSUs which use bundled transmission to initiate transactions.
  • Reference 35 characters / Remittance Information 140 characters.
Wednesday, 23 October 2013 09:20

About SEPA

The introduction of the euro as the single currency triggered the common effort to create a single payment area covering cashless payments as well. The project, which unifies rules and standards of cashless payments, was called SEPA. With SEPA, payments in euro across Europe will be as fast, safe and efficient as national payments are today. Once SEPA has been completed, there will no longer be any distinction between national and cross-border euro payments.

SEPA consists of 33 European countries and also includes countries that are not part of the euro area and the European Union such as Iceland, Liechtenstein, Monaco, Norway and Switzerland.

The SEPA project focuses on three payment instruments:
  • credit transfer (SCT),
  • direct debits (DD)
  • payment cards
The European Payment Council has developed payment schemes for SCT (credit transfer) and DD (direct debit).

These schemes are defined in rulebooks that cover the rules, practices and standards applicable to SEPA payment instruments.

Main feature of SEPA

  • A harmonised legal basis:
    July 2009
    : Transposition of the Payment Services Directive (PSD) into national law (Zahlungsdienstegesetz ZaDiG).The PSD provides a harmonised legal framework for payments in the European Union, which is necessary for the smooth functioning of SEPA. The PSD is not restricted to euro transactions, but applies to all payment services in all EU currencies within the European Union, at cross-border as well as national levels.
    November 2009: Prices for cross-border transactions (credit transfer as well as direct debit transaction) within the European Union had to sink to the level of national transactions.
    March 2012: Regulation No 260/2012 came into effect establishing technical and business requirements for credit transfers and direct debits in euro. The regulation stipulates 1 February 2014 as the end date for migration to SEPA credit transfers and SEPA direct debits in the euro area.
  • Common technical standards:
  • To facilitate cross-border and national transactions, common standards, processes and formats (XML) were established.
  • A single set of payment instruments in euro (credit transfer, direct debit, cash cards)
Wednesday, 23 October 2013 09:10

Payment Transactions

After the introducing of the Euro-cash money in 2002, there have been plans for a standardisation of cash-less payment transactions in Europe. All payments are expected to be treated like inland payments.

Prior to SEPA, all communities and member states of the European Union processed transactions in their own manner which resulted in numerous variations of payment systems all over Europe. To standardise transaction processing, the new SEPA rulebooks and formats have to be implemented. Only by realizing SEPA, credit transfers, direct debit and card transactions will be processed the same way in every member state of the European Union. Therefore it is necessary to effectuate all standards/rules which are commited to the European area in Austria.

You will find the following information on our website:

Important facts for payment transactions:

  • The SEPA Migration is obliged to happen until 31st July 2014. (change to SEPA Credit Transfer/SEPA Direct Debit).
  • Replacement of receipts of payment to "Zahlungsanweisungen"
  • Replacement of account number/BLZ to IBAN/BIC. As of february 2014, payments with "IBAN Only" can be assigned in Austria (only throughout Austria), as of 2016 it is also possible throughout Europe.
In the context of SEPA all companies are obliged to change their payment transactions to XML.
Wednesday, 23 October 2013 09:06

Tools

QR-Code Generator

The QR-Code (=Quick Response) is a two-dimensional code – similar to the customary barcode. It can only used for the initiation of the "Zahlungsanweisung". Further information is available in the  folder download area or here.

XML Checker

In cooperation with the company GEFEG, PSA offered the possibility to check XML files on their validity (in the fashion of Austrian financial institutes demanding them from their customers).

They are not only examined on their syntax, but also the dependencies, prerequisites and restrictions which are necessary for the applications are taken into account.

These testings enable the facilitation and the expediting of the following required tests by credit institutes.

Attention, important instructions:

  • Registration with user name and pass word for upload and testing
  • Your personal area is only visible for you
  • File size smaller than 20 kB

IBAN Check

The IBAN consists of the ISO-country code, a two-digit check digit, bank informations and the account number. The length of the IBAN can contain up to 34 digits because of country-specific conditions. In Austria the IBAN contains 20 digits.

With the Check-Script you can check the formal correctness of an IBAN.

Payment references

For the transmission of as many informations as possible in the "Verwendungszweck" in a "Zahlungsanweisung", special patternings were developed.

For tax payments/post bar and EACT respectively, a standardised payment reference is required. 140 characters are valid for unstructured references and 35 characters for structured references.

Because joint forwardings of the payment reference (former client data fields) and the "Verwendungszweck" (a line of a maximum of 140 characters, line breaks are invalid) are not possible anymore, the following structures are determined for special cases:
  • Post bar-payment
    Thus you send money to a beneficiary without an acount by use of the post-service.
    pdf Here (467 KB) are special rules for the "Verwendungszweck" for post bar-payments.

  • EACT
    Possibility for the structuring of payment information.
    Structure for the "Verwendungszweck" of EACT are available pdf here (770 KB) .
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