SEPA Instant Payments: Speeding Up Your Payment Process

What is SEPA?

The Single Euro Payments Area (SEPA) is an initiative launched by the European banking and payments industry to synchronize and simplify electronic payments within the European Union (EU) and several non-EU countries.

SEPA aims to:

• Create a single, integrated market for euro-denominated payments.
• Eliminate barriers to cross-border transactions, making them as seamless as domestic transactions.
• Level the playing field across the eurozone for all participating countries.

What you need to know about SEPA Instant payments

SEPA Instant Credit Transfer, also known as instant SEPA payments, is an enhanced version of the traditional SEPA Credit Transfer. This payment method supports money transfers of up to €100,000 between participating banks or payment service providers (PSPs) in real or near-real time. SEPA Instant Credit Transfer transactions are processed within seconds and are available 24/7.

Advantages of Instant SEPA Payments

The benefits of instant SEPA payments are numerous, especially when compared to traditional bank transfers or card payments. Here are some key advantages:

• Speed: Instant SEPA payments are processed in seconds, significantly faster than the 4-5 business days typical of standard bank transfers.
• Availability: This payment method is available around the clock, ensuring you can make transactions anytime.
• Efficiency: Rapid payments mean quicker allocation of funds, which can be critical for meeting tight deadlines or managing last-minute bookings.
• Flexibility: Ideal for situations where card payments aren’t an option, such as when card limits are exceeded or urgent payments are needed.

Why choose SEPA Payments?

Choosing instant SEPA payments can be particularly advantageous in the following scenarios:

• Credit card limits: If a credit card limit is exceeded, instant SEPA payments provide an alternative, ensuring transactions can still be completed.
• Urgent deadlines: When payment deadlines are within 48 hours, instant SEPA payments ensure funds are allocated in time, preventing any potential delays or cancellations.

Understanding the payment flow and fees

The process of making an instant SEPA payment is similar to a standard bank transfer. However, it’s always best to send proof of payment to your Account Manager for faster verification and allocation. 

Please note that while RateHawk does not charge fees for instant SEPA payments, your bank might.

The fees, if applicable, depend on your banking institution.

Embrace the future of payments with RateHawk

Instant SEPA payments are a game-changer for our partners, offering a fast, reliable, and efficient way to manage transactions. We encourage you to take advantage of this new payment option to enhance your business operations and ensure smoother, faster payment processes.

Ready to speed up your payments? Start using instant SEPA payments today and experience the convenience and efficiency firsthand. 

Try today

For further assistance, don’t hesitate to contact your Account Manager.