Instant credit transfers are now a reality in eight European countries

Instant credit transfers are now a reality in eight European countries

A significant step towards faster, more innovative and digital payments in Europe

21 November 17

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The Instant Credit Transfer ( Inst) scheme created by the European Payments Council is operational. As of today, nearly 600 payment service providers () from eight European countries are offering instant payment solutions based on Inst. 

Transferring money in less than ten seconds

The scheme allows the electronic transfer of money – currently up to 15,000 euros – progressively across Europe in less than ten seconds, at any time and on any day of the year, including weekends and holidays. The transactions covered by the scheme must be denominated in euros.

Nearly 15 percent of European already offer services based on Inst

The 585 participating in the Inst scheme are located in eight European countries: Austria, Estonia, Germany, Italy, Latvia, Lithuania, the Netherlands and Spain. Customers from these – individuals, businesses, corporations and administrations – can now make and receive instant euro credit transfers within their national borders as well as cross-border (starting with these eight countries), with the funds being immediately available. 

To discover other benefits of the scheme, do not miss our infographic in which we highlighted ten of its top benefits:

EPC infographic on the benefits of the SEPA Instant Credit Transfer scheme
Inst is an excellent substitute to cash and cheques

Inst offers an endless list of convenient uses for all segments of customers. It is especially highly convenient, for example, if an individual needs to urgently send money to a relative, or to pay for a product or service that requires on-the-spot settlement. With regular credit transfers, it can take up to one business day for the beneficiary to see the money in their account.

View our infographic on the top 20 use-cases of the Inst scheme:

EPC infographic on the use-cases of the SEPA Instant Credit Transfer scheme

What is next for Inst?

This is only the beginning of the European journey towards instant payments. The geographical scope of Inst will progressively span over 34 European countries. More from major European countries are expected to join the scheme in 2018 and 2019. Among them, from Belgium, Finland, Germany, Malta, the Netherlands, Portugal and Sweden.

What is more, the will make the scheme evolve to better reflect market needs. This will be done in close dialogue with all payment stakeholders. For example, the maximum amount per transaction will be regularly reviewed starting from November 2018. An increased maximum amount will make the scheme more attractive for companies.

With its numerous advantages, the Inst scheme fully anchors European payments in the anywhere, anytime digital world. Are you ready to adopt a new way to pay? 

You can find on the right side of this page several useful resources (press release and press kit, questions & answers, video...) about the Inst scheme.



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