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SCT: PSPs ready to move up to 15,000€ from one a/c to another in max of 10 secs

The development of the Instant Credit Transfer (SCT) is proceeding rapidly. 

The European Payments Council have published the list of the first payment service providers (PSPs) that have announced their readiness for the SCT scheme on 21 November. 2017 when they will guarantee to move up to 15,000 euros from one account to another in maximum ten seconds anywhere in the SEPA region.

Already ready

134 PSP from four countries (Austria, Estonia, Latvia and Spain) have already adhered to this new scheme, which will make possible to move up to 15,000 euros from one account to the other in maximum ten seconds. For example, major Spanish banks like BBVA, Caixabank, Sabadell and Santander are registered to send and receive Inst transactions. 

Partially ready

Erste Bank in Austria, has also adhered to the scheme, but only to receive transactions, at least in the early days of the scheme.

Number expected 

In total, EPC expect over 600 PSPs from 10 countries to be ready by 21 November. The list, which will be updated regularly, is publicly available in the Register of Participants., here.


CTMfile take: SCT will change how consumers and businesses in SEPA carryout their business. Will you be ready to take advantage of the Instant Credit Transfer scheme?


This item appears in the following sections:
Payments - Making
Making International Payments
Making Urgent Payments

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