Business On Line SEPA Instant

SEPA Instant FAQs

Please check this page for future updates.

• What is SEPA?

  SEPA is the Single European Payments Area. It has a number of payment schemes such as SEPA credit transfers (non-urgent), SEPA Instant payments and SEPA direct debits. They are all governed by individual SEPA Scheme rules, run by the European Payment Council (EPC). All payment service providers/banks that sign up to the schemes must follow these rules.

• What is a SEPA Instant payment?

  A SEPA Instant payment (also known as a SEPA Instant credit transfer) enables funds to be transferred from one payment account to another, in euro, within 10 seconds, 24 hours a day, any day of the year including bank holiday and weekends. There are a few exceptions to this. For example, times when the system might be unavailable due to planned maintenance. We will let you know about these in advance. You have been able to receive SEPA Instant payments from January 2025. You will be able to send SEPA Instant payments by 9 October 2025.

• What is the SEPA Zone?

  The SEPA Zone is what the EPC calls the geographical area where its SEPA schemes operate.

• Which banks/payment service providers will offer SEPA Instant?

  In 2025, only countries in the EU that have the euro as their main currency are mandated to receive SEPA Instant payments (from Jan 2025) and mandated to send out SEPA Instant payments (from Oct 2025). Payment service providers including banks in other countries within the SEPA Zone can voluntarily join the scheme. Countries in EU/EEA where the euro is not their main currency, will be mandated to receive SEPA Instant payments from Jan 2027 and to send SEPA Instant payments from July 2027. Non-EEA countries in the SEPA Zone are not mandated to send or receive SEPA Instant payments.

• What is the main difference between SEPA Instant payments and SEPA payments?

  SEPA payments: payments can take between one and two business days to reach the payee/beneficiary payment service provider/bank.

  SEPA Instant payments: payments, if successful, are credited to the payee/beneficiary within 10 seconds of the payment being made, 24/7, any day of the year.

  Customers will get a notification letting them know if their SEPA Instant payment has been successfully processed or if it has been rejected. If a payment is rejected, the notification will say why the SEPA Instant payment was rejected.

• Are there any additional fees for using SEPA Instant?

  There are no additional fees to use SEPA Instant over a BOL standard payment.

• Do I need to register for SEPA Instant?

  Administrators on your Business On Line profile will have the ability to turn on and off SEPA Instant payments for individual users 24/7 by updating User Group settings.

• Can I opt out of SEPA Instant?

  You can choose whether to make a payment using SEPA Instant or SEPA. If you choose SEPA Instant, you will be able to make a payment if the payee/beneficiary payment service provider/bank is reachable for SEPA Instant payments.

• Where and when can I make SEPA Instant payments?

  You can make SEPA Instant payments on Business On Line or submit SEPA Instant payments in a bulk file using BOL File Gateway and Payments Plus (except during scheduled maintenance periods, which we’ll tell you about in advance):

  • Business On Line (BOL): at any time. Cut-off times do not apply.
  • BOL Payments Plus/BOL File Gateway: at any time. Cut-off times do not apply.
• When can I receive SEPA Instant payments into my account?

  Since 9 January 2025, you’ve been able to receive SEPA Instant payments into your payment accounts (for example, your current account) 24 hours a day, any day of the year. Accounts that cannot receive SEPA Instant payments include loans, mortgages, certain deposit accounts, credit card accounts and Global Market accounts.

• How do I send a SEPA Instant payment?

  On or before 9 October 2025, we’ll give you a full explanation of all the ways that you can make a SEPA Instant payment.

• Can I send SEPA Instant payments in Bulk?

  Yes. We will provide a SEPA Instant bulk file service through BOL File Gateway and Payments Plus. If you are a bulk file submitter, we will provide you with more information closer to the time.

• Can I set SEPA Instant payment limits?

  Yes. You will be able to set a daily limit or a transaction limit for making SEPA Instant payments on Business On Line. This limit cannot be more than the overall daily control limit that applies to your Business On Line profile. SEPA Instant payments are included in the limit calculation on the calendar day they are processed.
  You will also be able to set a daily limit or a transaction limit for making SEPA Instant bulk payments on BOL File Gateway and Payments Plus.