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Time Frame Overview
| Payment Type | SWIFT (Priority) | Local (Regular) |
|---|---|---|
| Cut-off time (UK Time) | 2:30 pm | 2:00 pm |
| Delivery time frame | 0 days | 0 days |
| Payment Scheme | TARGET2 (EUR to any Eurozone country and Croatia, Bulgaria, Denmark, Poland, and Romania) SWIFT (EUR to any other country) |
SEPA Credit Transfer (SCT) * SEPA Instant Credit Transfer (SCT Inst - Instant Credit Transfer (SCT Inst)) * |
| Maximum payment size | No limit | €100,000 (SCT Inst) No limit (SCT) |
| Destination countries | Any (excluding exception) | SEPA countries |
| Traces | Yes | No |
| Recalls | Yes | No |
| Ultimate payer displayed? | Yes | Yes |
* Please note, for payments where the beneficiary bank is connected to SCT Inst and the payment is below €100,000 the payment will be automatically routed via SEPA Instant Credit Transfer (SCT Inst) If the beneficiary bank is not Inst-reachable, the payment will be sent as an SCT.
To set up SEPA payments
Step 1 - add Beneficiary and choose Regular payment method. In the event that you decide to make a Swift payment in the future, you may also choose to enter the Swift payment details.
Step 2 - add the SEPA payment details.
For more details on how to set up a Beneficiary follow this link - Add or Set up a Beneficiary to Pay
Additional information
Required Details for Local (Regular) SEPA Payment
| Field | Individual | Company | Permitted Data | Notes |
|---|---|---|---|---|
| Beneficiary Entity Type | ✓ | ✓ | ‘individual’ or ‘company’ only | |
| Beneficiary First Name | ✓ | ✕ | 1-255 characters* | |
| Beneficiary Last Name | ✓ | ✕ | 1-255 characters* | |
| Beneficiary Company Name | ✕ | ✓ | 1-255 characters* | |
| IBAN | ✓ | ✓ | 15-34 alphanumeric characters; spaces permitted | We validate that the IBAN provided is a valid one. We do not currently perform checks against the account name. |
| Payment Currency | ✓ | ✓ | 3 letter ISO currency code | |
| Payment Amount | ✓ | ✓ | Numeric amount | |
| Payment Reference | ✓ | ✓ | 1-255 alphanumeric characters |
The scheme only supports 140 alphanumeric characters. The reference field will be truncated to fit this limit. |
| Payment Reason | ✓ | ✓ | 1-255 alphanumeric characters | Only alphanumeric characters are accepted. |
| Payer Entity Type | ✓ | ✓ | ‘individual’ or ‘company’ only | |
| Payer First Name | ✓ | ✕ | 1-255 characters* | |
| Payer Last Name | ✓ | ✕ | 1-255 characters* | |
| Payer Company Name | ✕ | ✓ | 1-255 characters* | |
| Payer Address | ✓ | ✓ | 1-255 characters* | |
| Payer City | ✓ | ✓ | 1-255 characters* | |
| Payer Country | ✓ | ✓ | 2 letter ISO country code | |
| Payer Date of Birth | ✓ | ✕ | ISO 8601 format (YYYY-MM-DD). |
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