SEPA Instant Creditor Flows

Creditor flows represent scenarios where your client is receiving money from a another party, the debtor.

Example use case

A client of another bank (the debtor) makes a SEPA Instant Credit Transfer to a client of your bank (the creditor) to repay them for tickets to a concert they purchased and went to together.

Prerequisites

• Mambu Payment Gateway (MPG) feature must be enabled
• Account must be mapped to an IBAN using our accounts API
• Bank account must be in Euro denomination
• Your nominated clearing and settlement mechanism (CSM) must support instant payments

Steps

1. The debtor's bank sends a pacs.008 message through the clearing and settlement mechanism, specifying all required details including the amount to be transferred and setting the local instrument code as INST.
2. The payment is logged by the Mambu Payment Gateway and validated with first checks being made including that the amount does not exceed the maximum permitted amount of EUR100,000, that the target IBAN is mapped to a Mambu deposit account, and that the current time compared to the timestamp of the payment initiation has not exceeded the cut off time specified in your configuration.
3. The Mambu Payment Gateway posts a positive hold on the debtor account.
4. Upon receiving the confirmation from the Mambu API that the hold was placed successfully, the Mambu Payment Gateway responds with a pacs.002 message with the status ACCP.
5. The Mambu Payment Gateway clears the hold and posts a deposit transaction to the creditor account in the amount specified in the SEPA message.