SEPA Instant transfers: what you need to know
SEPA Instant Credit Transfer
SEPA Instant Credit Transfers are currently available in all the Eurozone states and offer users an unparagoned transaction execution speed of up to 10 seconds.
Key benefits of SEPA Instant Credit Transfer:
- Immediate funds’ availability for the recipient
- Reduced fraud risk
- Real-time payment tracking
- Competitive fees
- A seamless customer experience
How to start using SEPA Instant transfers?
In order to start transacting, you need to open one of the following accounts with Satchel: business, merchant, freelance, or personal.
As soon as your main account is active, you will need to apply for a separate SCT Inst account directly from your desktop Client office that can be accessed via this link https://my.satchel.eu/#/login.
Please make sure that the recipient’s bank/EMI supports SCT Inst transfers. Otherwise, the transaction will be declined.
If you still do not have an account with Satchel, you can submit your application for a corporate, merchant, freelancer or personal account online. If you have any further inquiries, feel free to contact us at [email protected] or by calling +370 5214 1818.
Limits on SEPA Instant payments
Corporate clients can make payments of up to EUR 15,000 per transaction, while private clients have a limit of EUR 5,000. If the payment amount exceeds the limits specified above, the transaction will be not executed instantly and can be rejected. We advise you to check our tariffs before initiating payments.
Transfers to accounts that don’t support SEPA Instant
Unfortunately, it is not possible to make a SEPA Instant transfer to a bank account that does not support the SEPA Instant scheme. Both the sender and recipient’s banks/EMIs must support SCT Inst for the transaction to be successful. If the recipient’s bank does not support the SCT Inst option, we recommend using a regular SEPA transfer instead.
You can read more useful information in our FAQ section or check out our blog.
