pain.001 Definition.

The ISO 20022 credit transfer initiation message (Customer Credit Transfer Initiation) that a company sends to its bank, typically over EBICS. It carries the batches, execution dates, payee IBANs, and end-to-end references that will show up on the creditor’s statements. Its counterpart for collecting direct debits is pain.008.

See also

→ ISO 20022→ EBICS→ SCT

Where this term appears

GuidePayments in GermanyGuidePayments in Germany, Austria, and SwitzerlandGuidePayments in SwitzerlandGuideB2B payments around the worldGuideISO 20022 and the global migrationGuideReconciliation and reporting around the worldGuideSEPA credit transfers and direct debitsGuideSwift MT and the MT940 statementGuideISO 20022 for statements: the camt messagesGuideFrance’s CFONB bank file formatsGuideImplementing reconciliationGuideE-invoicing and B2B payments

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