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SEPA Instant Transfer: done in 10s!

The SEPA Instant Credit Transfer (SCT Inst) scheme offers real-time transfers in euros, taking convenient money management one step further.

SEPA Instant transfers

Execution time up to 10 seconds

24/7/365 availability

Supported across 36 countries in Europe and the UK

Added security of transactions

No hidden fees

How does it work?

It is important to know that SEPA Instant transfers are only possible if both sender and recipient banks/banking service providers are connected to the SEPA Instant scheme.

Difference between SEPA and SEPA Instant payments:
Countries
Fees
Currencies
Speed
Countries
Fees
Currencies
Speed
SEPA Instant
SEPA area
From € 0 / 0.2%
EUR
Up to 10 seconds
Countries
Fees
Currencies
Speed
SEPA
SEPA area
From 0 to 5 EUR
EUR
< 1 business day

How to get it?

You will need a separate account in order to send and receive SEPA Instant payments, but there is no need to go through the onboarding process once again for current Satchel clients. If you still don't have a Satchel account, we suggest you submit your account opening application right away.

FAQ

What is SEPA Instant Credit Transfer?

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SEPA Instant Credit Transfers (SCT Inst) is a convenient way to transfer funds in EUR, ensuring lightning-fast transaction speed. SEPA Instant payments are available 24/7/365 and are processed within just 10 seconds. This service is accessible in 36 countries within the SEPA area.

Current list of countries in the SEPA area

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The SEPA (Single Euro Payments Area) area consists of 36 countries from the EU and the European Economic Area (EEA). All the EU member states currently endorse SEPA. Countries outside the EU that also support SEPA include the UK, Iceland, Norway, Liechtenstein, Switzerland, Monaco, San Marino, Andorra, and the Vatican City State.

What are the benefits of SEPA Instant payments?

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The main advantage of SEPA Instant payments is the transaction processing time. Compared to regular SEPA transfers, which take 1 to 2 business days, these payments offer immediate funds availability and improved customer service. Furthermore, they also reduce the risk of fraud by providing real-time transaction confirmations and stricter security requirements.

How do SEPA Instant Transfers work?

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SEPA Instant Credit Transfers are a fast and secure method for transferring euros between payment accounts in the Single Euro Payments Area (SEPA). These transfers are practically instantaneous, taking only up to 10 seconds. They are initiated through the customer's mobile banking app or client office and are verified through a secure two-factor authentication process. The money is then transferred within seconds, and the amount is immediately credited to the recipient's account.

To whom can I send a SEPA Instant Transfer?

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To execute a SEPA Instant transaction, both the sender’s and recipient’s banks/EMIs must be linked to the SEPA Instant scheme. Approximately 3,000 banks across the EU and the EEA are currently members of the SEPA Instant scheme. Please check our fees before proceeding with the transaction.

How to set up a SEPA Instant transfer?

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To get access to instant SEPA transactions, you will need to open an additional SCT Inst account. To do this, go to your Client office and submit an application online (https://my.satchel.eu/#/login), select "New Account" in the "Accounts" tab and choose the option to apply for a SEPA Inst account. If you have any questions, please contact us at [email protected] or +370 5214 1818.

What are the limits on SEPA Instant transfers?

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For corporate clients, the maximum payment amount per transaction is EUR 15,000, while private clients have a limit of EUR 5,000. If the payment amount exceeds these limits, the transaction will not be executed instantly and may be rejected.