European Payments
Modulr participates in both the SEPA Credit Transfer and SEPA Instant Credit Transfer payment schemes, allowing clients to transact in euros within the SEPA region.
We have a limit of €10M per single outbound payment request, however there is no limit for inbound payments.
Inbound Payments
Inbound SEPA payments are received from whichever scheme was used by the originator PSP.
Outbound Payments
We will submit your outbound payments via SEPA Instant Credit Transfer if the beneficiary PSP participates in SEPA Instant AND you have not specified SEPA_CREDIT within the permittedScheme parameter of the payment request.
We will submit your outbound payments via SEPA Credit Transfer if the beneficiary PSP does not participate in SEPA Instant Credit Transfers OR you have specified SEPA_CREDIT within the permittedScheme parameter of the payment request.
SEPA Instant Credit Transfer
The scheme operates 24/7/365 under normal circumstances and we submit payments to this scheme 24/7/365. Payments are required to be settled within 5 seconds. Because of the nature of the scheme, it is possible for Scheme participants to have transient planned or unplanned unavailability during which payments may be rejected.
As soon as we receive confirmation that your payment was successfully settled, the status of the payment will change to PROCESSED.
Note: Payments submitted via SEPA Instant Credit Transfer rejections are synchronous and can be rejected by any entity in the chain between Modulr and the beneficiary PSP (inclusively) for a variety of reasons before settlement occurs. If we receive notification that the payment was rejected, the status of your payment will change to ER_EXTSYS - you can find more detail on the rejection by calling GET /payment for the payment, where additional information is available in the Message element on the reason behind the rejection.
SEPA Credit Transfer
This payment scheme operates on business days only and we submit payments to this scheme between 6am and 2pm UK time, Monday to Friday. Payments submitted during this time are typically settled within 2 or 3 hours. If submitted out with this time, they will typically settle within 2 or 3 hours after 6am the next business day. Payments are required to be settled by the end of the next business day.
As soon as we receive confirmation that the payment was successfully settled, the status of your payment will change to PROCESSED.
Note: SEPA Credit Transfer payments rejections are asynchronous - Payments submitted via SEPA Credit Transfer will always be settled before the beneficiary PSP can reject/return the payment. If the beneficiary PSP wishes to reject the payment, then a return payment is initiated after settlement, a PAYIN webhook will be triggered with a Return reason. The status of the original payment is not updated as the return is a separate transaction.
Rejected SEPA Outbound Payments:
If an outbound payment is rejected, the payment status of the payment be updated to a final status of ER_EXTSYS by calling GET /payment for that payment additional information is available in the Message element on the reason behind the rejection:
Message | Possible further action |
|---|---|
| Issue whilst sending to the beneficiary PSP. Resubmit new request later or specifically send as SEPA Credit Transfer in new request via API or Portal | There was an error in clearing that meant the payment could not be completed; this may be transitory - either resubmit a new SEPA Instant Credit transfer or force a SEPA Credit Transfer by using the permittedScheme parameter in the payment request |
| Rejected by beneficiary PSP - Account blocked | Payment cannot be made to Beneficiary account |
| Rejected by beneficiary PSP - Account closed | Payment cannot be made to Beneficiary account |
| Rejected by beneficiary PSP - Amount exceeds imposed limits | Payment cannot be made to Beneficiary account because of a limit in clearing or at the beneficiary PSP. |
| Rejected by beneficiary PSP - At request of beneficiary | Payment cannot be made to Beneficiary account because of a request by the payer; seek clarification from your payer |
| Rejected by beneficiary PSP - Beneficiary deceased | Payment cannot be made to Beneficiary account |
| Rejected by beneficiary PSP - Duplicate payment indicated | Payment cannot be made to Beneficiary account because it was flagged as a duplicate payment. If payment required, resubmit a new payment with unique reference. |
| Rejected by beneficiary PSP - Incorrect or invalid address information | Payment cannot be made to Beneficiary account because of a deficiency in address information provided; correct and resubmit a new payment |
| Rejected by beneficiary PSP - Incorrect or invalid IBAN | Payment cannot be made to Beneficiary account because of a deficiency in IBAN provided; correct and resubmit a new payment |
| Rejected by beneficiary PSP - Missing beneficiary name or address | Payment cannot be made to Beneficiary account because of a deficiency in address information provided; correct and resubmit a new payment |
| Rejected by beneficiary PSP - Missing originator IBAN | Payment cannot be made to Beneficiary account because of a deficiency in information provided; correct and resubmit a new payment |
| Rejected by beneficiary PSP - Missing originator name or address | Payment cannot be made to Beneficiary account because of a deficiency in information provided; correct and resubmit a new payment |
| Rejected by beneficiary PSP - Reason not specified; If desired, specifically send as SEPA Credit Transfer in new request via API or Portal or seek alternative beneficiary account to make payment | There was an error in clearing that meant the payment could not be completed for a reason not given by the beneficiary PSP; this may be transitory - potentially force a SEPA Credit Transfer by using the permittedScheme parameter in the payment request, however this may also result in a payment return, or seek alternative account from your payer to make payment to. |
| Rejected by beneficiary PSP - SEPA Instant not accepted against this account; If desired, specifically send as SEPA Credit Transfer in new request via API or Portal or seek alternative beneficiary account to make payment | There was an error in clearing because the beneficiary PSP account does not support SEPA Instant Credit Transfer; if required force a SEPA Credit Transfer by using the permittedScheme parameter in the payment request, or seek alternative account from your payer to make a SEPA Instant Credit Transfer payment to. |
| Error during processing | A general error or technical issue occurred during processing. Either resubmit a new SEPA Instant Credit transfer or force a SEPA Credit Transfer by using the permittedScheme parameter in the payment request, if required raise to Modulr support for further analysis |
Updated 18 days ago