Abbreviations

Below you will find the list of abbreviations and terms used in describing the Payments Posting and Validations module.

Abbreviation or Term

Expansion or Description

SML Payments

An abbreviation in Finnish. It is the real-time payment method used for payments made between the banks of a particular Monetary Financial Institution (MFI).

AOS1

Additional Optional Service 1.

SEPA Single European Payments Area.
FX Foreign Exchange.
BIC Bank Identifier Code.
IBAN International Bank Account Number.
SHA Cost bearing method: Shared, used when the sender and the recipient want to split the transfer fees.
OUR Cost bearing method: The sender covers all transfer charges.
BEN Cost bearing method: All the fees are paid by the recipient of the transfer.
PO Payment Order
STO Standing Order
RF format International Creditor Reference Number format
ERI Extended Remittance Information

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