March 2020

NPC Instant Credit Transfer Scheme Rulebook

The NPC Instant Credit Transfer Scheme is a set of rules, practices and standards to achieve interoperability for the provision and operation of a credit transfer agreed at interbank level for the currencies covered by the Scheme (Scheme Currencies). The objectives of the Rulebook are:

  • To be the primary source for the definition of the rules and obligations of the Scheme
    To provide authoritative information to Participants and other relevant parties as to how the Scheme functions
  • To provide involved parties such as Participants, Clearing and Settlement Mechanisms (“CSMs”), and technology suppliers with relevant information to support development and operational activities
  • This Rulebook is written on a conceptual level. In addition to the Rulebook, there can be local market practices, additional agreements and documentation from Clearing and Settlement Mechanisms (“CSMs”), technology suppliers or other relevant parties.

The Rulebook is primarily focused on stating the business requirements and interbank rules for the operation of the Scheme.

In addition to the Rulebook there will be a number of key documents which support the Scheme operationally, the NPC Instant Credit Transfer Scheme Implementation Guidelines. These three complementary documents are:

  • the guidelines regarding the interbank messages (NPC Instant Credit Transfer Scheme Interbank Implementation Guideline)
  • the guidelines regarding the customer-to-bank messages (NPC Instant Credit Transfer Scheme Customer-to-Bank Implementation Guidelines) which each Participant is recommended to support at the request of the Originator
  • the recommendation on ISO 20022 customer reporting for bank-to-customer messages (NPC Recommendation on ISO 20022 customer reporting of NPC Credit Transfer and Instant Credit Transfer) which each Participant is recommended to support    

To ensure planning security for all market participants to implement the changes within their organisations, the publication of the new rulebook versions follows a predictable release management cycle. In accordance with industry best practice, payment service providers and their suppliers have enough time to address the rulebook ahead of 19 February 2021, which is the effective date of the rulebook. Please note that: the actual date when transactions can be made according to the rulebook will dependent on when the participants and the CSM implementing the rulebook are ready.

The vision of the NPC is to follow the SEPA payment schemes as much as possible. This document summarizes, on a high-level, the differences between the EPC SEPA Credit Transfer Scheme Rulebook and the NPC Credit Transfer Scheme Rulebook. A mark-up Rulebook version, can be received by sending an email to and requesting a copy, all detailed differences are highlighted.

High-level comparison of the EPC SEPA Rulebooks and the NPC Rulebooks