Using the new SEPA Instant Credit Transfer (SCT Inst) scheme, developed by the European Payments Council (EPC) within the Single Euro Payments Area (SEPA), it is now possible to make and receive a bank transfer in under ten seconds, at any time of day and on any day of the year, including weekends and public holidays, in eight-member states of the EU.
From this Tuesday 21 November, nearly 600 payment service providers (PSPs) in Austria, Estonia, Germany, Italy, Latvia, Lithuania, the...