SEPA Instant payments (also called SEPA Instant Credit Transfers) allow you to send money in euros from one payment account to another within 10 seconds. This service is available 24 hours a day, every day of the year. This includes weekends and bank holidays. Once enabled, SEPA Instant payments are settled in real time, and you get instant confirmation as to the success or failure of the payment. It’s a fast and efficient way to move money.
- There will be no need to install extra apps, as the additional functionality will be available in your online or mobile banking access.
- You will receive immediate confirmation on successful completion of the payment, giving you peace of mind that your payment has been delivered successfully. SEPA Instant makes managing your money faster, easier, and more conveniently than ever.
- There are no cut-off times for Instant payments made through online banking. Subject to internal controls and validations, you can set up a payment on any day, at any time, and it will be processed instantly.
- However, cut-off times do apply to payments made in person at your Credit Union.
- To set up a SEPA Instant payee, members will need to log in to their account via a web browser. Please be vigilant that the name entered matches the name on the recipient’s account.
Features and Benefits of SEPA Instant Single Payments
| Feature | SEPA Instant | Standard SEPA Credit Transfer |
| Speed | Under 10 seconds | Up to 1 business day |
| Availability | 24/7, 365 days of the year | Business hours only (Mon-Fri, excl. holidays) |
| Transaction Limit | No specific limit (PSP-dependent) | No specific limit (PSP-dependent) |
| Currency | Euros (€) only | Euros (€) only |
| Geographic Scope | SEPA zone (must be between participating banks) | SEPA zone (all SEPA-compliant banks) |
| Bank Participation Required | Yes - both sender and receiver PSPs must support SCT Inst | No - all SEPA PSPs by default |
| Confirmation | Instant Confirmation | Confirmation may take hours |
SEPA Instant Single Payment FAQs
SEPA is the Single European Payments Area. It has a number of payment schemes such as SEPA credit transfers (non-urgent), SEPA Instant payments and SEPA direct debits. They are all governed by individual SEPA Scheme rules, run by the European Payment Council (EPC). All payment service providers/banks that sign up to the schemes must follow these rules.
SEPA Instant payments (also called SEPA Instant Credit Transfers) allow you to send money in euro from one payment account to another within 10 seconds. This service is available 24 hours a day, every day of the year. This includes weekends and bank holidays. There are a few exceptions to this. For example, times when the system might be unavailable due to planned maintenance. We will let you know about these in advance.
- Once enabled, SEPA Instant payments are settled in real time and you get instant confirmation as to the success or failure of the payment. It’s a fast and efficient way to move money.
- You have been able to receive SEPA Instant payments since January 2025. You will be able to send SEPA Instant payments by 9 October 2025.
The SEPA Zone is what the EPC calls the geographical area where its SEPA schemes operate.
- List of member states within the SEPA zone
Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, United Kingdom, Vatican City.
In 2025, only countries in the EU that have the euro as their main currency are mandated to receive SEPA Instant payments (from Jan 2025) and mandated to send out SEPA Instant payments (by 9 October 2025). Payment service providers including banks in other countries within the SEPA Zone can voluntarily join the scheme. Countries in EU/EEA where the euro is not their main currency, will be mandated to receive SEPA Instant payments from Jan 2027 and to send SEPA Instant payments from July 2027. Non-EEA countries in the SEPA Zone are not mandated to send or receive SEPA Instant payments.
- SEPA payments: Payments can take between one and two business days to reach the payee/beneficiary payment service provider/bank.
- SEPA Instant payments: Payments, if successful, are credited to the payee/beneficiary within 10 seconds of the payment being made, 24/7, any day of the year.
Members will get a notification letting them know if their SEPA Instant payment has been successfully processed or if it has been rejected. If a payment is rejected, the notification will say why the SEPA Instant payment was rejected.
There are no additional fees to use SEPA Instant over a Standard SEPA payment.
Administrators on your credit union profile will have the ability to turn on and off SEPA Instant payments for individual users 24/7 by updating User Group settings.
- To manage SEPA Instant payees, you will have to log into your credit union account on a browser.
You can choose whether to make a payment using SEPA Instant or Standard. If you choose SEPA Instant, you will be able to make a payment if the payee/beneficiary payment service provider/bank is reachable for SEPA Instant payments.
Since 9 January 2025, you’ve been able to receive SEPA Instant payments into your payment accounts (for example, your current account) 24 hours a day, any day of the year. Accounts that cannot receive SEPA Instant payments include loans, mortgages, certain deposit accounts, credit card accounts and Global Market accounts.
On or before 9 October 2025, when you make a payment to a SEPA Instant-reachable payee, the “Instant” payment type will be selected by default. You can change the payment type back to “Standard” if you wish by selecting it in the dropdown.
Yes. You will be able to set a daily limit or a transaction limit for making SEPA Instant payments. This limit cannot be more than the overall daily control limit that applies to your credit union profile. SEPA Instant payments are included in the limit calculation on the calendar day they are processed. The daily limit is valid from midnight to midnight seven days a week and can be updated at any time in the day with immediate effect.
- Remember: SEPA Instant limits are optional and apply to SEPA Instant payments only. If you do not set a limit, the Panel Limit and Daily Control Limit will apply by default.
