XML / ISO 20022 Standard
ISO 20022 Messages
- Closing Tag
- Maximum Length
- Element Value
- Mandatory element
- Missing Tag
- Missing Child Element
- Unsupported Characters
- Wrong Declaration
US ACH (Nacha)
XMLdation Service Guides
The purpose code is carried to the beneficiary in the SEPA credit transfer.
The purpose code is carried to the beneficiary in the SEPA credit transfer. The value of the purpose code or a corresponding explanation is not carried to the payer’s KTO account statement. In the XML account statement the value is carried to the payer's and the beneficiary's account statements.
The following specification codes, for example, can be used together with the Category Purpose ‘SALA’ code.
o STDY (Study) = Student financial aid
o BECH (ChildBenefit) = Child benefit
o PENS (PensionPayment) = Pension
o BENE (UnemploymentDisabilityBenefit) = Assistance or benefit
o SSBE (SocialSecurityBenefit ) = Compensation
o SALA (Salary) = Salary
o TAXS (TaxPayment) = Tax refund