SEPA - Glossar




Additional Optional Services
Additional services offered to a customer by a bank beyond SEPA transactions.


Austrian Payments Council
The APC is a coordination platform for the implementation of SEPA requirements in the Austrian financial institutions and represents the national Austrian counterpart to the EPC.  The APC reviews and analyses requirements in order to find a common position with respect to EPC issues and to prepare a coordinated implementation in Austria.


Bank Identifier Code
A bank’s identification code for global use.

Creditor ID

A number clearly identifying each remitee (payee) of a SEPA debit entry at EU level.


Electronic Data Interchange for Administration Commerce and Transport
Data carrier format for the exchange of payment transaction information.


European Payments Council
The European Payments Council is the decision-making and coordinating body of the European banking sector in the payment transaction area. It is a working platform of more than 70 European banks in 31 countries including the European associations of credit institutions and a number of payment transaction service providers (EBA, S.W.I.F.T ….).


International Bank Account Number
A series of alphanumeric characters that uniquely identifies an account held at a bank (ISO-Norm). The IBAN generally consists of a country code, a check digit, a bank code (bank routing number) and an account number.

Mandate Reference Number

A reference number that stays unchanged with every debit transaction to ensure that every transactions for a specific payer can be verified and returned.


Payment Services Directive – Zahlungsdienste Richtlinie
Directive for the uniform European legal framework in matters relating to payment transactions.


Single Euro Payments Area
Uniform framework for payment transaction in euros within the SEPA countries.


SEPA Direct Debit
Uniform direct debit procedure for all SEPA countries.  


SEPA Credit Transfer
Uniform transfer procedure for all SEPA countries.


Study Company for Cooperation in Payment Transfers
Technical cooperation platform of Austria's largest credit institutions. This company is also in charge of coordinating the technical SEPA migration in Austria.

XML  (UNIFI – ISO 20022)


Extensible Markup Language
New data storage format for the exchange of payment transfer information. In the medium term, XML will replace EDIFACT as data storage format in Austria.