Speed of delivery, competitive pricing and reach set us apart from the competition. Our comprehensive SEPA reach and speed is achieved using multiple methodologies in addition to four daily settlement cycles. This means VocaLink clients enjoy the simplicity and cost benefits of using a single interface for all payments, yet enjoy the flexibility of the multiple routing options. We also deliver payments to non-SEPA compliant destinations throughout the SEPA area and around the globe.
The VocaLink Euro Clearing and Settlement Mechanism (CSM) provides a complete clearing service facilitating settlement via TARGET2. The Euro CSM is a SEPA-compliant service for SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) and has completed the European Central Bank (ECB) self-assessment and can demonstrate full SEPA compliance of its infrastructure.
Banks using the VocaLink Euro CSM enjoy the following benefits:
- Low costs: as the largest independent CSM in Europe, our transaction charges are very competitive
- Speed: Four daily settlement cycles and multiple routing options ensure the quickest delivery
- Operational flexibility: multiple formats managed, including EPC, EBA ISO 20022 and MT103+
- Commercial flexibility: a single contract with VocaLink covers all delivery channels and pricing reflects usage