Service Level

ISO 20022 Service Level element, payment execution agreement.

Definition

SvcLvl/Cd indicates the set of rules under which the payment must be processed. The value 'SEPA' triggers processing under the EPC schemes; 'INST' marks an instant credit transfer. Codes come from the ExternalServiceLevel1Code list. It sits inside PmtTpInf in pain.001 and pacs.008.

Origin

Codes defined in the ISO 20022 External Code Sets (ExternalServiceLevel1Code) maintained by the Registration Management Group; SEPA usage specified by the European Payments Council SEPA Scheme Rulebooks.

Example in context

<PmtTpInf><SvcLvl><Cd>SEPA</Cd></SvcLvl></PmtTpInf>

Related terms

• SEPA Credit Transfer — uses SvcLvl=SEPA.
• External Code Sets — source of the codes.