Successful Satabank SEPA Instant Transfers Grow by the Day
Since December 12 2017 and being among the first to participate in the Pan-European SEPA Instant scheme, we at Satabank have successfully processed more than 2000 instant payments!
Satabank’s advanced technology achieves exceptional average times of 3 seconds for a single SEPA instant transfer and has ran with 0:00 downtime and no drops of the service since launch.
Instant cross-border payments are now available across more than 25% of Europe’s payment service providers, amounting to 1000 financial institutions in the EEA. The key benefits of the service to customers and business alike are:
- Payments are always made just in time and are completed in seconds
- The service is available 24/7/365
- Single instant transfer value is up to €15 000 which allows customers and business to manage expenses and daily business operations easily. The limits are to be reviewed annually.
- The service is fully digital and provides a convenient way to pay even over mobile
- Improves cash-flow by making funds instantly available and has the potential to replace cash and cheques in many situations.
- Strengthens payment harmonization of euro-zone.
- An instant payment method within the EU which complies with the latest customer and data protection, anti-money laundering and anti-fraud legislations.
- All 34 countries currently participating in SEPA Credit Transfers scheme are invited and expected to participate in SEPA Instant.
With the growing acceptance of SEPA instant, and the ability to transfer money any day and within seconds, Satabank takes a firm role as an innovative bank in our anywhere, anytime digital world.