The Bundesbank’s RPS SEPA-Clearer provides a competitively neutral, high-performance and cost-effective payment procedure for the processing of SEPA payments. When processing submitted payments, a distinction is made between SEPA credit transfers and SEPA direct debits, as well as SCC card payment. Inbound and outbound communication occurs exclusively by means of data telecommunication via SWIFTNet FileAct or EBICS (Electronic Banking Internet Communication Standard). Several processing cycles are provided in the course of each processing day. Payment processing in the RPS SEPA-Clearer is effected in line with the TARGET2 calendar. The values of successfully processed payments are settled in gross terms using accounts in the TARGET2 payments module. To this end, it is also possible to make use of the account of a settlement agent. To facilitate the processing of SEPA payments to and from other SEPA countries, the Bundesbank maintains a number of bilateral cooperative agreements with other European SEPA clearing houses and is connected to EBA CLEARING’s STEP2 Clearing System. This ensures that the Bundesbank is able to provide its participants with secure, Europe-wide access in order to process their SEPA payments. The Bundesbank is valued by the banking industry as a reliable and neutral partner.