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Format updates include changes to file formats (e.g. BAI2, CSV, MT940) provided via information reporting services and transaction initiation file formats (e.g. SEPA ISO 20022 XML).
November 21, 2016
Effective Monday November 21, 2016, the European Payments Council is introducing some significant changes to the SEPA Direct Debit schemes. As a result of these changes the COR1 exception scheme will close. The last date that COR1 transactions can be submitted is Friday 18th November and the last settlement date available for that scheme will be Friday December 2, 2016.
Therefore Direct debit originations must be submitted using the CORE scheme from November 21, 2016. This will impact the way that pain008 direct debit xml messages are formatted when they are forwarded to J.P. Morgan.
The following tag (structural sequence number 02.06.03.01) needs to be revised. Click here for details.
IMPORTANT: Failure to update the pain008 direct debit xml message from November 21, will result in the file being rejected and the collections not processed. If you the xml message is updated and with a settlement date prior to November 21, please be aware they will be processed with the current CORE settlement times of D-5 for new collections and D-2 for subsequent collections.
There is no impact to existing mandates the CORE and COR1 schemes are inter-operable.
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