CCB JSC launches the service for SEPA instant payments in euro under the European Payments Council SEPA Instant Credit Transfer (SCT Inst) scheme

The service is available to individuals and business customers, allowing them to order and receive interbank transfers in euros for amounts up to €15 000 in seconds. The service is available 24/7, 365 days a year through all digital channels - CCB Online, CCB Mobile and CCB Open banking.

The fee for ordering a SEPA instant transfer in EUR is the same as the fee for ordering a standard SEPA transfer in EUR, according to the Tariff of interest, fees and commissions for individuals and business customers.

What are SEPA Instant Payments in Euros?

SEPA Instant Payments are transfers in euros that happen in just a few seconds at any time of the day. Unlike many other payment systems, the speed of payment does not depend on the opening hours of each individual bank and payment service provider or on the capabilities of the national clearing operators in the different EU Member States.

SEPA Instant Payments are credit transfers whereby the transferred funds are available to the recipient within a maximum of 10 seconds of the transfer being ordered.

What is SEPA?

SEPA, or Single Euro Payments Area, is a single standard for money transfers used within the European Union and several other countries that are not part of it. Transfers in euro within this territory are carried out under the same conditions as domestic transfers in national currency in individual Member States.

What is the difference between a SEPA payment and a SEPA immediate payment in euros?

• A SEPA payment is a bank transfer from one SEPA country to another SEPA country. It is always made from the IBAN of the sender to the IBAN of the receiver. The transfer takes up to 1 working day (Monday - Friday from 8:30 am to 8:00 pm).
• The SEPA Instant Euro Payment is an instant transfer denominated in euros that can be executed 24/7 and reaches the recipient in seconds.

To whom can I send SEPA Immediate payment in euros?

A SEPA Instant Payment in EUR can only be ordered and executed if both the sender's and the payee's banks are connected to the common pan-European SEPA Instant Payment scheme. Currently, almost 3 000 banks from 23 countries in Europe are part of the SEPA Instant Payment scheme and, according to the provisions of Regulation (EU) 2024/886, from 09.01.2025 all banks and other payment service providers in the euro area must be able to receive SEPA Instant Payments in euro. By October 2027, according to the same European Regulation, all banks and other payment service providers in all SEPA countries will be connected to the SEPA Instant Euro Payment Facility, thus removing geographical borders for payments between countries in Europe.

See here a list of all banks participating in the SEPA Instant Euro Payments scheme.

SEPA member countries at the end of 2024

At present (December 2024), SEPA includes 36 European countries: 27 EU members + 3 European Economic Area (EEA) members - Iceland, Norway and Liechtenstein + 6 non-EEA countries - the United Kingdom, Switzerland, Vatican City, Monaco, San Marino and Andorra.

See here a list of all SEPA member countries.

To take advantage of SEPA instant transfers in euro through your mobile banking, update the CCBank Mobile app to the latest version.