Bank Transfers Explained: SEPA, ACH, Credit Transfers & Direct Debits
Understand how bank transfers work, including SEPA credit transfers, direct debits, ACH, clearing mechanisms, and settlement processes. Learn how domestic and cross-border payment systems operate and how banks process transactions.
6 Topics
In-depth curriculum
6 Topics
Comprehensive modules
Practical Examples
Real-world scenarios
Certificate
Available upon request
Community Access
Join expert learners
What You'll Learn
Master the fundamental concepts covered in this course
Understand the importance and role of payment systems in the economy
Learn the main types of payment systems: DTNS, RTGS, Hybrid, Integrated
Compare settlement models and their liquidity/risk profiles
Understand the mechanisms powering advanced payment systems
Explore SEPA, SCT, and SDD with practical examples
Learn the full flow of a credit transfer in the Four-Corner Model
Understand clearing and settlement mechanisms (CSM)
Master exception handling: rejects, returns, recalls, reversals, refunds
Course Curriculum
6 comprehensive topics covering all major concepts in payment systems and bank transfers
Importance of Payment Systems
- Why payment systems are critical for the economy
- How payment infrastructures enable secure and efficient value transfer
- Overview of payment system participants: payer, payee, banks, system operators
Types of Payment Systems
- Designated-Time Net Settlement (DTNS)
- Real-Time Gross Settlement (RTGS)
- Hybrid systems (Continuous Net Settlement)
- Integrated systems combining RTGS & Hybrid modes
- Comparison of settlement risk and liquidity needs
Mechanisms of Payment Systems
- Netting and continuous processing
- Partial netting and offsetting
- Queue management
- Reordering, prioritization, and optimization
- Searching and matching facilities
SEPA & Bank Transfer Instruments
- SEPA overview and participating countries
- SEPA Credit Transfer (SCT)
- SEPA Direct Debit (SDD)
- Push vs pull payment instruments
Credit Transfer (SCT) in Detail
- Roles: originator, beneficiary, banks, intermediaries
- Clearing and Settlement Mechanisms (CSMs)
- Four Corner Model: relationships and processing flows
- Exception handling: reject, return, recall
Direct Debit (SDD) in Detail
- Mandate creation and authorization
- Roles in direct debit processing
- Four Corner Model processing flow
- Exception types: reject, refusal, return, reversal, revocation, refund
Meet Your Instructor
Milko Filipov
Payments Expert | 12+ Years Experience
Milko Filipov is an experienced professional in payment systems, card payments, and digital banking, with strong expertise in emerging technologies, cryptocurrencies, and decentralized applications, agentic commerce and agentic payments. He has supported major global projects for organizations including NTT DATA, Siemens, BMW, Commerzbank, Atruvia, Capgemini, Bosch, BNP Paribas, Stripe, EPI, and Visa.
Milko holds an MBA in Finance and Strategic Management from the Katz Graduate School of Business at the University of Pittsburgh and is committed to helping financial and technology professionals deepen their understanding of the payments industry to drive better, more innovative banking solutions.
Requirements
- Basic understanding of payment concepts recommended
- Familiarity with banking terminology helpful
- Interest in payment infrastructure and systems
Who This Course Is For
- Payment professionals seeking deeper knowledge
- Banking and fintech specialists
- Developers implementing payment solutions
- Technical architects designing payment systems
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