External Purpose Code List

The SEPA components contain an External Purpose Code List. This code list contains values that define the reason for payment transactions between customers.

This code list was developed within the framework of some of the ISO 20022 Payment messages. The code values can be used in specific elements of the Payments messages, and are required in order to validate all Customer to Bank messages. Although the code values can be used in specific elements of the Payments messages, the External Purpose Code List is not part of the ISO 20022 standard, as it is not a stand alone ISO standard such as BIC, or Currency Codes. To access the current code values go to the ISO 20022 website:

www.iso20022.org