The names of the first payment service providers ready for SCT Inst ar...

The names of the first payment service providers ready for SCT Inst are revealed

11 September 17

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The published the list of the first payment service providers () that have announced their readiness for the Instant Credit Transfer ( Inst) scheme on 21 November.

134 from four countries (Austria, Estonia, Latvia and Spain) have already adhered to this new scheme, which will make possible to move up to 15,000 euros from one account to the other in maximum ten seconds.

For example, major Spanish banks like BBVA, Caixabank, Sabadell and Santander are registered to send and receive Inst transactions. A banking group from Austria, namely Erste Bank, has also adhered to the scheme, but only to receive transactions, at least in the early days of the scheme.

The list is publicly available in the Register of Participants.

In total, we expect over 600 from six countries (on top of those already mentioned, Finland and Italy) to propose Inst services to their customers from 21 November onwards.

The complete list of ready for Inst in November will be updated mid-October, once the receives the information from these .



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