A Sepa migration forum facilitated by the Euro Banking Association has set out its best practice guidelines on direct debit exception handling.
The Sepa migration action round table (Smart) presented its advice on dealing with so-called R transactions - rejects, refusals, returns, refunds, reversals, revocations and requests for cancellation - at a Sibos panel today.
The document - backed by nearly 20 major payment banks, including BNP Paribas, Deutsche Bank and RBS - concentrates on the issuing and operational processing of R transactions as well as the charging and handling of related fees.
Jan Paul van Pul, head, market infrastructures, ABN Amro, and Smart chairman, says: "We hope that the practical guidance provided by our forum will help banks across Europe to further increase the straight-through processing rate of R-transactions and - where possible - to reduce their occurrence."
Read the full guidance notes:» Download the document now 124.4 kb (PDF File)