GLOBAL PAYMENTS KNOWLEDGEISO 20022 / SWIFT / SEPA / MT / MX
PAYMENTSSIGNAL

The interactive academy for the standards, messages, and rails that move money.

PROGRESS
BREAK IT · SEPA CREDIT TRANSFER THROUGH STEP2-T

What happens when this goes wrong?

Every other page shows this payment working. Here you choose what breaks, and follow the damage — because a hold, a return or a missed cut-off is the system working as designed, and reading one calmly is the job.

CHOOSE WHAT GOES WRONG

Pick a failure above. Nothing here is invented — each one is a reason code this rail really uses, at the step where it really strikes.

EVERY FAILURE ON THIS RAIL

  • CUTOFFStep 3: Bank Alfa submits the interbank transfer to STEP2-T — Submitted after the cycle cut-off — the transfer rolls to the next settlement cycle

One payment through a single STEP2-T clearing cycle and one TARGET2 settlement; real STEP2-T netting batches many payments from many participants across several daily cycles. Every failure here is authored on SEPA Credit Transfer through STEP2-T, with the sources that back it.