Thursday 5th October, 2017
The European Payments Council (EPC) has published a list of the first payment service providers (PSPs) that have announced their readiness for the SEPA Instant Credit Transfer (SCT Inst) scheme on 21st November 2017.
SEPA Instant Credit Transfer scheme is intended to provide transfers of up to EUR15,000 within 10 seconds, 24/7/365, across borders between accounts in any of 34 SEPA countries.
134 PSPs from four countries (Austria, Estonia, Latvia and Spain) are ready for the new scheme.
Major Spanish banks like BBVA, Caixabank, Sabadell and Santander are also registered to send and receive SCT Inst transactions. Erste banking group from Austria has also signed up to the scheme initially to receive transactions.
In total, EPC expect over 600 PSPs from six countries (on top of those already mentioned, Finland and Italy) to propose SCT Inst services to their customers from 21st November onwards.
A complete list of PSPs ready for SCT Inst in November will be updated mid-October, once the EPC receives the information.