SEPA Instant Transfers

The SEPA Instant Transfer (Single Euro Payments Area) is a method of money transfer that allows for instant sending and receiving of funds in euros within the SEPA area. This area includes countries in the European Union (EU) and other associated European countries. The SEPA Instant Transfer represents an evolution of the standard SEPA system, providing faster processing times.

SEPA Instant Transfer

The primary feature of the SEPA Instant Transfer is the speed of the transaction. In contrast to regular SEPA transfers, which may take one or two business days, instant transfers are completed within seconds. This makes it an ideal option for situations where the prompt movement of funds is crucial.

In addition to speed, the SEPA Instant Transfer maintains the security and efficiency standards of the conventional SEPA system. To perform an instant transfer, it is necessary for both the sender's and recipient's banks to support this service.

It is important to note that not all banks offer support for SEPA Instant Transfers, and availability may vary from institution to institution. Before initiating a transfer, it is advisable to check with the involved banks to ensure they are capable of processing SEPA Instant Transfers.

Rauva is supporting SEPA Instant Transfers since November 2023.

Which countries support this type of transaction

Currently, transfers from and to Rauva accounts are limited to the SEPA network.

SEPA stands for 'Single Euro Payments Area' and has been adopted by almost all EU member states for cashless transactions since 2014. Currently, 36 countries, including non-EU members, participate in SEPA. In summary, SEPA simplifies international transfers within Europe to the same level as domestic transfers.

Countries that allow SEPA

• Andorra
• Austria
• Belgium
• Cyprus
• Estonia
• Finland (including Aland Islands)
• France (including French Guiana, Guadeloupe, Martinique, Mayotte, Saint Barthélemy, Saint Martin (French part), Réunion and Saint Pierre and Miquelon)
• Germany
• Greece
• Ireland
• Italy
• Latvia
• Lithuania
• Luxembourg
• Malta
• Monaco (Monaco and San Marino have agreements with the EU to use the euro as their currency.)
• Netherlands
• Portugal (including Azores and Madeira)
• San Marino (Monaco and San Marino use the euro as their official currency through bilateral agreements with the EU.)
• Slovakia
• Slovenia
• Spain (including Canary Islands and Ceuta en Melilla)
• Vatican City State

Non-Eurozone countries

SEPA schemes are only used for euro-denominated payments in non-eurozone countries. Euro-denominated bank accounts require reachability. For local currency payments, national schemes should be used.

• Bulgaria
• Croatia
• Czech Republic
• Denmark
• Hungary
• Iceland
• Liechtenstein
• Norway
• Poland
• Romania
• Sweden
• Switzerland
• United Kingdom (including Gibraltar)
• Guernsey, Jersey, and Isle of Man

For more information, visit the European Central Bank page.

What happens when SEPA Instant Transfer is not available?

When SEPA Instant Transfer is not available, your transfer is processed as a regular SEPA transfer.

In such cases, the processing time is the standard as per SEPA network, meaning it may take up to two business days.