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SEPA Payments
#############

This page collects reference materials and details for specifics of SEPA payments.

SEPA Credit Transfer (SCT)
==========================

SCT is a "normal" bank transfer.  Details (terminology, data definitions, flow diagrams) can be found in the EPC's
`SCT rulebook <https://www.europeanpaymentscouncil.eu/document-library/rulebooks/sepa-credit-transfer-rulebook>`__.


Reject vs Return vs Recall
--------------------------

* A **rejected** payment is refused by the originator bank or the
  clearing and settlement layer.
* A **returned** payment is refused by the beneficiary's bank via a
  counter-transaction over the settlement layer.
* A payment is **recalled** when the originator's bank (potentially
  requested by the originator) wants to "undo" a SCT.

SEPA currently does **not** directly support a mechanism for the **beneficiary** to return
a payment.