SEPA Instant Progress, or the lack of it...

[dubliner8]

@shrinn A Revolut to N26 arrived at 08:12 for me, initiated at 01:42 and completed at 05:33 by Revolut. I don't have instant from Revolut for some unknown reason...

 

[Towger]

The original rules were a SEPA Instant payment has to go through within 10 seconds. If takes longer it fails. Has this been relaxed by the EPC or are some of the banks not as instant as they claim.

 

[Freelance]

Has this been relaxed by the EPC or are some of the banks not as instant as they claim.

From my observations it appears to be pretty hit and miss. While some/a lot of transactions are instant, some which should be aren't and it's difficult to discern a pattern. I certainly haven't seen or heard of a derogation or relaxation of the 10 second rule.

It will be very interesting to see how the banks get on with the next steps. There are three mountains to be climbed by the end of October 2025. VOP (Realtime Payee Verification), SEPA Instant Outbound and the lifting of the €100k cap on SEPA instant transactions. The first of these is an enormous technical challenge (and the architecture doesn't do much to make it easier to implement and the timelines for implementation are very very tight) and the second is likely to bring the creaking support services offered by Irish retail banks to their knees.

Interesting times.

 

[24601]

From my observations it appears to be pretty hit and miss. While some/a lot of transactions are instant, some which should be aren't and it's difficult to discern a pattern. I certainly haven't seen or heard of a derogation or relaxation of the 10 second rule.

Is this not just a case of them only having to be ready to receive SEPA Instant payments as of last month rather than there being any legal obligation to be able to send them? Come October I'd imagine the 10-second window for sending a payment will be on the radar more, but the early adopters are possibly just working through the functionality and any teething issues with it.

 

[Persia]

N26 to EBS took under 10 seconds, was very impressed until I tried to transfer from EBS to N26 yesterday morning at 8.12 am.....the stagecoach and team are still heading across France but should arrive in Berlin at N26HQ Monday morning.