Business rules
      Back to home
      1. Knowledgebase
      2. EPC SEPA
      3. Business rules

      RF Creditor Reference

      Creditor reference

      Creditor Reference is a referece defined by the creditor. By including the creditor reference to a payment, debtor can be sure that the creditor knows which invoice the payment is paying.

      RF Creditor Reference

      Many countries have their own creditor reference standards, but there also exists an international standard. The Creditor Reference (also called the Structured Creditor Reference or RF Creditor Reference) is an international business standard based on ISO 11649, implemented at the end of 2008. It was first implemented within the SEPA rulebook 3.2.

      ISO 20022 Usage

      RF Creditor Reference is given in field "Ref" inside StructuredRemittanceInformation

      The usage of RF Creditor Reference may vary depending on bank. Some banks accept RF Creditor Reference when the value of Ref starts with RF (and the check digits are correct) and some need also issuer to be defined with value "ISO".

      RF Expert Group suggests to use Issuer "ISO" when giving RF Creditor Reference. It is also worth noting that CdOrPrtry/Cd is mandated to be value "SCOR" by EPC.

      Example (preferred) usage:

      <CdtrRefInf> 
        <Tp> 
          <CdOrPrtry> 
            <Cd>SCOR</Cd> 
          </CdOrPrtry> 
          <Issr>ISO</Issr> 
        </Tp> 
        <Ref>RF712348231</Ref> 
      </CdtrRefInf>
       
       
      ref.PNG

       

       

      Sources:

      Ranta, M. & Kähkönen, O. (Ed.) (2010). RF Creditor Reference. Facilitating full end-to-end straight-through payment processing. RF Expert Group.