SCT Definition.
SEPA Credit Transfer: the standard euro credit transfer, an EPC scheme launched in 2008 and credited by the next business day (D+1) at the latest. It carries 140 characters of remittance information plus end-to-end references, and is exchanged through clearing and settlement mechanisms (CSMs). It is still the workhorse for salaries, pensions and supplier payments, though instant payments are steadily taking share.
See also
Where this term appears
GuidePayment schemesGuidePayment regulationGuideCentral banks and payment infrastructuresGuidePayments in the BalkansGuidePayments in the Baltics and FinlandGuidePayments in the Netherlands and BelgiumGuidePayments in Germany, Austria, and SwitzerlandGuidePayments in Central and Eastern EuropeGuidePayments in FranceGuidePayments in Greece, Cyprus, and MaltaGuidePayments in IrelandGuidePayments in Italy