Instant Credit Transfer Scheme and Prepayment: Difference between pages

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''Single Euro Payments Area (SEPA)''
1. ''Banking''.


(SCT Inst).
The non-contractual early repayment by bank customers of, for example, fixed rate mortgages.
 
 
2. ''Accounting''.
 
An amount paid in advance for a financial benefit, represented by an asset in the organisation's balance sheet.


SEPA's Instant Credit Transfer Scheme is designed to enable pan-European credit transfers with the funds made available in the recipient's account within ten seconds.




== See also ==
== See also ==
* [[European Payments Council]]
* [[Accrual]]
* [[SEPA credit transfer]]
* [[Average effective maturity]]
* [[SEPA direct debit]]
* [[Bookkeeping]]
* [[PSD2]]
* [[Early Repayment Charge]]
* [[RT1]]
* [[Extension risk]]
* [[Single Euro Payments Area]]
* [[Prepayment risk]]
* [[Prepayments]]


[[Category:Cash_management]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]

Revision as of 10:21, 28 July 2020

1. Banking.

The non-contractual early repayment by bank customers of, for example, fixed rate mortgages.


2. Accounting.

An amount paid in advance for a financial benefit, represented by an asset in the organisation's balance sheet.


See also