R-transaction

SEPA exception handling, for SDD collections and SCT transfers.

Definition

R-transactions cover cases outside the normal flow: Reject (before settlement), Return (after settlement), Refund (debtor-requested reimbursement under Core), Reversal (creditor-initiated cancellation), Refusal and Revocation. Each carries a standardised reason code stating the cause (account closed, insufficient funds, missing mandate, etc.).

Origin

Defined in the SEPA Rulebooks and the European Payments Council guidance EPC173-14 "Guidance on Reason Codes for SDD R-transactions".

Example in context

A Return after settlement uses the ISO 20022 pacs.004 (Payment Return) message with a reason code, e.g. AC04 (account closed).

Related terms

• SEPA Direct Debit — scheme generating the most R-transactions.
• SEPA Credit Transfer — also subject to Rejects and Returns.