SEPA-INSTANT

European 24/7/365 instant transfer.

Definition

SCT Inst uses ISO 20022 pacs.008 and pacs.002 messages. Supported by RT1 (EBA CLEARING) and TIPS (TARGET Instant Payment Settlement, ECB). Instant Payments Regulation (EU 2024) mandates support by all euro-zone banks since 9 January 2025.

Origin

Scheme adopted by EPC in 2017 ; operational November 2017.

Example in context

A buyer pays EUR 50 of fresh produce via SCT Inst Sunday 7PM — credited in 8 seconds.

Related terms

• EBA CLEARING — RT1 operator.