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|
|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
Required Details for Local (Regular) SEPA Payment
|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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