R-transactions

Roles that need it

• Payments Operations Analyst
• Cash Management Product Manager
• General Accountant
• Reconciliations Analyst

Skills it belongs to

• Payment systems and messaging (SWIFT, ISO 20022, SEPA, ACH, UPI)
• Settlement and fails management

Related concepts

• SEPA Direct Debit (SDD Core and B2B)SEPA Direct Debit (SDD) lets a creditor collect euro from a debtor's account on the basis of a signed mandate. The Core scheme serves consumers and businesses, and consumers can ask for a refund without giving a reason within eight weeks. The B2B scheme serves businesses only, gives no such refund right and requires the debtor's bank to check the mandate.
• Payment recallA payment recall is a request from the payer's bank to the payee's bank to return a credit transfer already executed, for example after a duplicate, a technical error or fraud. In ISO 20022 it travels as a camt.056 and is answered by a pacs.004 return or a negative camt.029. The payee's bank, and often the payee, must agree.
• pacs.004 (payment return)pacs.004 is the ISO 20022 message that returns the funds of an already settled payment to the sending bank, for reasons such as a closed account, a wrong account number or an accepted recall. It carries a reason code and references to the original payment. In SEPA it is used for credit transfer returns and for direct debit returns and refunds.
• Direct debit mandateA direct debit mandate is the debtor's authorisation for a creditor to collect payments from its account and for its bank to pay them. A SEPA mandate carries a unique mandate reference, the creditor identifier (a code that identifies each collecting creditor across SEPA), the signature date and whether it is one-off or recurrent. The creditor stores it.

Sources

• SEPA Direct Debit, European Payments Council (external site) accessed 31 Oct 2026
• SEPA Credit Transfer, European Payments Council (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.