Definicja repetitive code

A key that designates the payment transfer data that remains unchanged.

This includes the sender bank, sender account, recipient bank, recipient account, payment method, and currency. It is used to reduce the administrative work required for frequently recurring payments with the same payment details. The only details that are different for each payment are the amount and the note to payee. In addition, in the USA, a company can agree a repetitive code with its house bank. The bank then only needs the repetitive code, the amount, and (if required) the note to payee in order to process a payment order.