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SEPA 2028 standard —
What changes for your credit transfers and direct debits
On 9 November 2026, the European Payments Council (EPC) published the final decisions of its Payment Scheme Management Board on the changes to the 2028 SEPA rulebooks (SCT, SCT Inst, SDD Core, SDD B2B and OCT Inst). Here are the timeline, the accepted changes and their impact on your pain.001 and pain.008 files.
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The timeline of the 2028 SEPA rulebooks
The decisions have been made, but the final texts are not yet published. The EPC has aligned the timeline with that of the EU Payment Services Regulation (PSR) and the PSD3 directive.
| Date | Milestone |
|---|---|
| 9 November 2026 | Publication of the decisions on the 2026 change requests |
| Second quarter of 2027 | Publication of the 2028 rulebooks and implementation guidelines |
| End of the third quarter of 2028 at the earliest | Entry into effect of the 2028 rulebooks (exact date to be confirmed by the EPC) |
| November 2030 | Entry into effect of the following rulebooks, with migration to a more recent version of the ISO 20022 standard |
The main accepted changes
Among the changes accepted by the EPC, five directly concern companies that issue SEPA credit transfers and direct debits.
Names up to 140 characters
The maximum length of names (originator, beneficiary, debtor, creditor) increases from 70 to 140 characters, for credit transfers and direct debits alike.
ISO 11649 structured reference
For SEPA credit transfers (SCT), the originator's bank will have to check the structured creditor reference (“RF…”) when the structured remittance information refers to the ISO 11649 standard. The format rules for structured remittance information are also revised.
FR01 fraud code for direct debits
A new reason code, FR01, lets banks flag the reject, return or refund of an SDD Core direct debit linked to fraud or suspected fraud.
Credit transfer recall: 15 days
The deadline for requesting the recall of a SEPA credit transfer sent twice or because of a technical error increases from 10 to 15 banking business days.
Identification of the parties
The usage rules for organisation and private identifiers (creditor, debtor and ultimate parties) are adjusted to align with Regulation (EU) 2023/1113 on transfers of funds.
What is the impact on your pain.001 and pain.008 files?
The exact formats will be specified in the implementation guidelines expected in the second quarter of 2027, then by each bank. At this stage:
| ✓ Your current files remain valid: no change is required before the 2028 rulebooks take effect |
| ✓ If you use an “RF” creditor reference, check its check digits: an invalid reference may be rejected by your bank |
| ✓ Names longer than 70 characters will only be accepted once your bank has adopted the new implementation guidelines |
| ✓ The change of ISO 20022 version is only planned for the 2030 rulebooks |
| ✓ Check with your bank the exact format expected in your pain.001 / pain.008 XML files |
What about the structured address?
That is a separate topic. On 29 October 2026, the EPC again postponed setting an end date for the unstructured address: the decision is expected by February 2027. The structured and hybrid formats are already accepted.
Learn more about the structured address (SEPA 2026 standard)
Frequently asked questions
What is the SEPA 2028 standard?
It is the next version of the European Payments Council (EPC) rulebooks, which set the rules for SEPA credit transfers and direct debits. On 9 November 2026 the EPC published the changes it has accepted; the final texts are expected in the second quarter of 2027.
When do the 2028 SEPA rulebooks take effect?
At the end of the third quarter of 2028 at the earliest. The EPC has aligned this date with the expected application date of the PSR regulation and the PSD3 directive, and will announce the exact date once it is known.
Is the ISO 11649 structured reference becoming mandatory?
No, the published decisions do not make it mandatory. However, when a SEPA credit transfer contains an ISO 11649 structured creditor reference (“RF…”), the originator's bank will have to validate it.
Do I need to change my SEPA files now?
No. The 2025 rulebooks remain in effect and your current pain.001 and pain.008 files remain valid. The exact formats will be known with the implementation guidelines, in the second quarter of 2027.
Does the ISO 20022 version of the files change in 2028?
No. The migration to a more recent version of the ISO 20022 standard is planned for the following rulebooks, which will take effect in November 2030 and be published 18 months earlier.
Official sources
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