December 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).

In addition to the Rulebook, there can be local market practices, additional agreements and documentation from CSMs, technology suppliers or other relevant parties.

Connected to the Rulebook, there are a number of key documents which support the Scheme operationally, the NPC Credit Transfer Instant Scheme Implementation Guidelines:

  • 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    

The NPC Instant Credit Transfer Scheme will enter into effect on 19 February 2021. 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.

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 info@npcouncil.org and requesting a copy, all detailed differences are highlighted.