According to the Central Bank of Cyprus guidelines and the Regulation (EU) No260/2012, all multiple payments within Single Euro Payments Area (SEPA), like payrolls, suppliers’ invoices and other mass payments, should be processed as per specific technical requirements.

The standards for the message format are defined by XML Customer Credit Transfer Initiation message (ISO20022).

The Bank already supports version pain.001.001.03 and in November 2023 moved forward with the upgraded version pain.001.001.09.

Customers remitting such instructions to the banks should forward their files using one of these standards.

In order to facilitate customers, implementation guidelines are found below.

The utmost care has been taken to make sure the information in this publication is correct. However, the Bank by no means can be held liable for any loss or damage incurred due to any incorrect or incomplete information mentioned in this publication.