Credit transfer message initiated by the client is sent to the bank of the payer with the request to debit funds from the account of the payer and transfer them to the account of the recipient. The message may also be sent when the party initiating the credit transfer has obligations to send a payment order on behalf of the payer. The account statement message provided by the bank is sent to the account owner with all operations executed on the account during the selected time period in the past.

Each element of the credit transfer message is based on definitions of elements of the message "pain.001.001.03" (CustomerCreditTransferInitiationV03) of ISO20022 XML standard.

Description of message elements can be found Here.

Example .xml format file can be found Here.

Character set

Character set is a set of characters which can be used in message elements. ISO 20022 XML messages are adapted for multilingual environment. Characters are coded with UTF-8. Banks and their customers must be able to support the Latin character set commonly used in international communication, as follows:

a b c d e f g h i j k l m n o p q r s t u v w x y z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
0 1 2 3 4 5 6 7 8 9
/ - ? : ( ) . , ‘ + Space

All other characters of the UTF-coding in sent and received payments are converted according to the EPC recommended Conversion table.

Message structure

XML document is described with a scheme written in a specific XSD language (XML Schema Definition) Such schemes describe XML Tags, their structure and order. It also may indicate codes which are possible only for specific data, whether data is mandatory or optional, number of possible cases (or repetitions), etc.

The data file which includes message pain.001.001.03 is of the following structure:

<?xml version="1.0" encoding="UTF-8"?>
<Document xmlns="urn:iso:std:iso:20022:tech:xsd:pain.001.001.03"
          xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
          xsi:schemaLocation="urn:iso:std:iso:20022:tech:xsd:pain.001.001.03 pain.001.001.03.xsd">
    <!-- Content of the message -->
</Document>

The data file has to contain only one tag with only one XML message, unless the service provider and the client agree otherwise.

The content of the message consists of:

• Group Header - mandatory and cannot be repeated. Is is a set of characteristics shared by all individual transactions included in the message (e.g. date and time of message creation, number of operations in the message, etc.).
• Payment Information - mandatory and can be repeated. It is a set of characteristics that applies to the debit side of the payment transactions included in the credit transfer initiation (e.g. name of the payer, type of the operation, etc.).
• Transaction Information - mandatory and can be repeated. It is a set of elements used to provide information on the individual transaction(s) included in the message. Includes the recipient, payment purpose/details, etc.

The number of Payment Information and Transaction Information is specified in the Group Header.