ISO 20022

ISO20022 is a financial standard which covers nearly all messages sent between different organizations. From these wiki pages you can find generic information about the ISO 20022 messages sent between customer and bank when executing payments. These messages include credit transfer and direct debit messages as well as payment status report and account statements.

These messages are defined by ISO 20022 Universal financial industry message scheme (UNIFI). Messages are based on XML (Extensible Mark-up Language). You can get full definition of these messages from the ISO 20022 web site: http://www.iso20022.org/. At the bottom of the page you can find ISO20022 for Dummies document by SWIFT and ISO.

SEPA XML is a subset of ISO20022.pain.001.001.xx. In addition to SEPA credit transfers, ISO20022 also includes  Direct Debit description (ISO20022.pain.008.001.xx) and other messages.