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SEPA - Sending C2B Payment Files

SEPA - Sending
C2B Payment Files

One file, several payments to the Euro Area.

Advantages

Pursuant to Regulation (EU) No 260/2012 of the European Parliament and of the Council (also known as SEPA Regulation or End-Date Regulation), Millennium bcp provides a service for Sending SEPA C2B Payment Files as an alternative to the current PS2 Payment Files.

This new service allows your company to make a number of credit transfers in Euros to Portugal, and to all SEPA countries, with a single standardised format XML file, developed by the Portuguese banking community in abidance by the international standard ISO20022 for this type of operation.

Some of the main advantages:

  • A single transaction (file) with several SEPA credit transfers, domestic or cross-border;
  • Possibility of scheduling the operation for a future date;
  • A single debit from the current account;
  • Decrease in operating costs, when compared with the one-off transfer order, domestic and abroad to SEPA countries;
  • The file has 3 separate areas to identify the message, file and entries;
  • Broad set of ISO codes to identify the type of transfers;
  • Additional fields on each entry to provide information to the beneficiary, as well as to accurately identify each payment by means of its own reference attributed by the transferor;
  • Alignment of the beneficiaries' accounts identifiers: IBAN (International Bank Account Number) and BIC (Bank Identifier Code) will start being used, for both cross-border and domestic transactions;
  • Check file in D+4 with the results of the file processing and individually for each entry also in XML format.

02.002.11811 - 23.07.2013

Costs

Consult the Pricing in force, under Fees and Charges, Other Clients, Transfers, also available for consultation at any Millennium bcp Branch near you.

Features

Aiming to simplify the communication between Banks and their Customers, the Portuguese banking community developed a new layout with an XML format, compatible with SEPA Models for Credit Transfers and Direct Debits and which specifies a subset of messages, elements and sub-elements to the ISO20022XML standards ("pain" messages) - Layout C2B (Customer-to-Bank).

This layout, besides contemplating the technical requirements required for compliance with the SEPA Models, incorporates domestic market specifications, therefore this is the layout used by Companies clients of Millennium bcp.

The latest version of the C2B layout is available at the Banco de Portugal's website in Portuguese.

C2B Payments File Layout

According to the C2B layout, each file must have a Message Pain.001.001.03 - Customer Credit Transfer Initiation - which, in effect, is used to communicate the Credit Transfer Information sent by the Originator to the Beneficiary's Bank. This message is composed of two building blocks: Group Header and Payment Information.

Mandatory information for the Files

  • The C2B layout provides a set of detail fields defined as mandatory, of which we underline: the TIN of the originator in the tag Identification of the Group Header (required by Millennium bcp);
  • Number of individual transactions included in the message under the tag Number of Transactions of the Group Header and Payment Information building blocks;
  • Control sum under the tag Control Sum of the Group Header and Payment Information building blocks.

Recommended information for the files

  • Stating the reason for the payments, the Category Purpose for instance: SALA for Salaries; SUPP for Suppliers; OTHR for other types of payment;
  • In the description to be given to the beneficiary (Remittance Information) choose Unstructured so that you can enter up to 140 characters;
  • Respect the list of permitted characters which do not allow accents or other special symbols such as "€" for example;
  • Provide IBAN instead of the Portuguese BIN (NIB), bearing in mind that for domestic accounts you only need to add "PT50" to the left of the existing BIN.

How it works

After preparing the C2B payment file, go to millenniumbcp.pt and, in File Management, click on Upload Files > C2B Payments/Collections. You must have on hand the file processing date, the total number of entries and the total amount.

If this is the first time you upload a C2B Payment file, contact your usual interlocutor at the Bank to confirm your status.

For the next operations, your company can verify the data of each operation as follows:

Operations History

Apart from consulting the data of the file - nr. of entries, the file's total amount and the data of each credit transfer -, you can also verify which users intervened in the operation Access as follows: Authorizations > Operations History.

Check files

As of D+4 (D being the settlement date), you can get a Check file by accessing: File Management  > Consult Files > Check.

In the file format, you must choose the option "C2B - Payments", checking, this way, if the data concerning each transfer were processed, or not.

Individual Payment statements

For all the transfers made by the Bank, the Company has, from D+4 onwards (D being the settlement date) the possibility of downloading an individual transfer statement.

For this information go to File Management > Consult Files > Individual Statements. In the file format, you must choose the option "C2B-Payments";

Bank slip

The bank issues a bank slip for the total amount of the file (that corresponds to the amount debited from the account). The Companies that subscribed the e-Bank Slips service may download them from the companies area of millenniumbcp.pt as of D+3 (D being the settlement date) going to:

  • Other Services > Documents > e-Statements and Bank Slips (.pdf) > bank slips (.pdf) > Consult or;
  • Through Consult current account entries.

If any of the payments is returned, the Bank shall issue a new Bank Slip for the credit to the account.

Concerning Corporate Clients, the transfers generate, by default, a bank slip and, consequently, the charging of postage costs for its remittance to the originator Company. If the originator does not wish to receive bank slips, it must expressly mention that wish to the Bank or, as an alternative, subscribe to the e-Bank Slips, through the companies website (free of charge) at Other Services > Documents > e-Statements and Bank Slips (.pdf) > Subscribe.

Other issues

Some frequently asked questions and respective answers to better clarify this solution.

To which countries can I order transfers by file?

Transfers are exclusively available for SEPA countries. As Portugal is part of SEPA, it is possible for the Bank to include domestic and cross-border payments in a single file.

How can I get the IBAN for my clients and suppliers in Portugal when I only have the BIN (NIB)?

It is very easy to convert the BIN (NIB) into IBAN, you only need to add "PT50" to the left of the existing BIN. For instance the IBAN for the BIN 0033 0000 01234567890 02 is: PT50 0033 0000 01234567890 02.

Currency

Transfers are executed exclusively in Euros.

Will my company lose functions by upgrading to C2B files?

No. Service levels, value dates, information in PS2 payment files, check files and statements remain the same or are upgraded.

Transfer limits

There is no minimum or maximum limit. Yet, if the file is sent to millenniumbcp.pt, the total amount of transfers on the file will always be subject to the combinations and limits defined during the registration.

Additional information that can be provided to the beneficiary

The C2B layout allows you to provide additional information in each transfer instruction to the Beneficiary, such as the number of the invoice being paid for instance, with a 140-character limit.

When can I start sending C2B Payment files?

Right now. If you already have experience uploading PS2 payment files to millenniumbcp.pt, go to File Management and find the function "C2B Payments/Collections".
However, if this is the first time you upload a C2B Payment file, contact your usual interlocutor at the Bank to confirm your status. For the next operations, your company can verify the data of each operation as usual.

Can I cancel C2B Payments files after the last authorization?

Yes. Until the business day prior to the date of financial settlement indicated in the file.


We advise you to read the C2B layout manual available in Portuguese and/or in English.

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