On 10 September 2019, the
Scheme Management Board (SMB) – the body responsible for the administration and evolution of the
Single Euro Payments Area (
) payment schemes, decided to amend the maximum amount per
Instant Credit Transfer (
Inst) transaction to 100,000 euros, effective as of 1 July 2020. For the time being, the maximum amount an Originator can transfer via a single
Inst transaction is set at 15,000 euros until the beginning of July 2020.
The document EPC023-16 sets the maximum amount per instruction that can be processed under the Inst scheme based on the 2019 Inst rulebook version 1.0, which has been published on 22 November 2018 and is effective as of 17 November 2019. This document is referred to in section 2.5 of the Inst rulebook and forms a binding supplement to the Inst rulebook.
Moreover, this document also gives the the possibility to adapt the maximum amount per instruction under the Inst scheme outside the regular scheme rulebook release management cycle as defined in the Scheme Management Internal Rules of the Inst rulebook.
If you would like to comment on this article, please identify yourself with your first and last name. Your name will appear next to your comment. Email addresses will not be published. Please note that by accessing or contributing to the discussion you agree to abide by the EPC website conditions of use.