SEPA Instant Transfers
This article explains how SEPA Instant Transfers work with Rauva, which countries support them, and what happens when instant transfers aren't available.
- What is SEPA Instant Transfer?
- How fast are SEPA Instant Transfers?
Which countries are supported?
- How do I send a SEPA Instant Transfer?
- What if my transfer doesn't go through instantly?
- Are there any fees?
- Can I cancel a SEPA Instant Transfer?
What is SEPA Instant Transfer?
SEPA Instant Transfer is a method of money transfer that allows for instant sending and receiving of funds in euros within the SEPA area. Unlike regular SEPA transfers that take 1-2 business days, instant transfers are completed within seconds.
How fast are SEPA Instant Transfers?
SEPA Instant Transfers are completed within seconds, making them ideal when you need to move money quickly.
This is much faster than regular SEPA transfers, which can take up to 2 business days.
Which countries are supported?
Currently, transfers from and to Rauva accounts work within the SEPA network, which includes 36 countries.
Eurozone Countries (using Euro):
- Andorra, Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Portugal, San Marino, Slovakia, Slovenia, Spain, Vatican City State
Non-Eurozone Countries (Euro transactions only):
- Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, Sweden, Switzerland, United Kingdom (including Gibraltar), Guernsey, Jersey, Isle of Man
Important Note: For non-eurozone countries, SEPA is only used for euro-denominated payments. Local currency payments use national schemes.
How do I send a SEPA Instant Transfer?
Sending a SEPA Instant Transfer works the same way as a regular transfer:
- Go to Transfers in your Rauva app or desktop
- Enter the recipient's IBAN and details
- Choose the amount in euros
- Confirm the transfer
- If both banks support instant transfers, it will be processed instantly
What if my transfer doesn't go through instantly?
If your transfer doesn't complete instantly, it likely means:
- The recipient's bank doesn't support SEPA Instant Transfers
- There's a technical issue with the instant transfer system
- The transfer has been converted to a regular SEPA transfer
In all cases, your money is safe and the transfer will complete within the standard SEPA timeframe (up to 2 business days).
Are there any fees?
SEPA Instant Transfers through Rauva follow the same fee structure as regular SEPA transfers. Check your current pricing plan for specific fee information.
Can I cancel a SEPA Instant Transfer?
No, that is not possible as these type of transfers are instantly processed.
Please refer to this article for more details.