Introduction

Single Euro Payments Area (SEPA) credit transfers are generally one-time payments of less than a billion euros from one Euro-denominated account to another, no matter where inside the Eurozone they are. SEPA does not require that transfers are free, but payments are usually free for the end user.

SEPA credit transfers in Mambu

The Mambu Payment Gateway (MPG) works as a middle layer between the outside world of SEPA XML messages and Mambu's API-based architecture. It takes incoming SEPA messages, turns them into transactions in a customer account, and generates SEPA-compliant messages for outgoing payments. The MPG also manages the translation of externally-exposed IBANs to a given Mambu account ID.

SEPA credit transfers timeline

• Transfer Initiated: A customer initiates a transfer from their bank to an account within the eurozone. While the funds are in transit the payer can request the transfer to be cancelled.
• Within one day after initiation: The funds should be settled in the receiver bank account within one day.
• Within three days of settlement: If a transfer has arrived but, for example, the bank account does not exist or there are other issues with the data, the receiving back can reject the payment within three days of receipt
• Within 10 days of settlement: The payer can request a recall for their payment within 10 days of it having settled. Reasons can include duplicate transfers, technical errors, and so forth.
• Within 13 Months of settlement: In cases of fraud, the payer has up to 13 months to request recall of the payment. In either recall case, the bank receiving the request has 15 days to respond to the request.

Supported use cases

• Processing incoming SEPA credit transfers
• Initiating outgoing SEPA credit transfers
• Manually rejecting an outgoing payment
• Recalling a SEPA credit transfer
• Rejecting or accepting SEPA credit transfer recall request
• Dispute management, including handling claims of non-receipt, value date corrections and accepting or requesting status updates for ongoing disputes

Some things to consider

• While not a requirement, we recommend carrying out anti-money laundering (AML) checks for incoming and outgoing payments.
• Incoming and outgoing SEPA payments made via the Mambu Payment Gateway will have the associated Mambu transactions enriched with remittance information. In addition to the Payments API documentation, we recommend reviewing our Mambu API v2 documentation, specifically the deposit account withdrawal and deposit operations when planning your integration.