SEPA Instant
SEPA Instant – instant payments in EUR
SEPA Instant is a service that enables euro transfers to be made 24 hours a day, 7 days a week (including bank holidays). Funds reach the recipient within a matter of seconds. This allows businesses to complete transactions efficiently and settle with counterparties more quickly in countries that support SEPA.
SEPA Instant transfers are executed within the European payment system.
what SEPA Instant offers
transfers are processed 24/7, with the funds arriving into the account within a maximum of 10 seconds from transaction execution
Verification of Payee scheme (for outgoing euro transfers)
you can opt out of recipient verification if you submit a batch of transfers
transfers from accounts held in EUR and PLN
Verification of Payee
Alongside SEPA Instant settlements, the Verification of Payee (VoP) will be introduced. Before a transfer is sent, the VoP mechanism verifies the recipient’s details. It also checks whether the recipient’s bank maintains an account (IBAN) with the specified number.
This increases transaction security, helps prevent fraud and misdirected payments, and notifies the payer of any discrepancies.
The verification takes a maximum of 5 seconds. The solution will apply automatically to both standard and instant SEPA transfers.
how SEPA Instant works
- 1
you initiate a SEPA Instant transfer
- 4
you will see the verification result after saving the transfer
- 5
based on the verification result, decide whether you want to proceed with the transfer.
Remember that you are responsible for the transfer even if you approve it despite the data not matching or if it is close to matching. If you have any doubts about whether to confirm the transfer, contact the transfer recipient to confirm the transfer details (especially the recipient's account number).
timeline of changes in instant payments in EUR
Non-euro area countries (including Poland):
from January 2027 – obliged to accept incoming transfers,
from July 2027 – obliged to process both incoming and outgoing transfers.
From 2025, euro area countries support both incoming and outgoing instant EUR transfers.
legal basis
Regulation (EU) 2024/886 of the European Parliament and of the Council of 13 March 2024 amending Regulations (EU) No 260/2012 and (EU) 2021/1230 and Directives 98/26/EC and (EU) 2015/2366 as regards instant credit transfers in euro
For technical details on the Verification of Payee scheme, please visit: https://www.europeanpaymentscouncil.eu/what-we-do/other-schemes/verification-payee