Swedbank launches instant payments in online bank

Tuesday 15 October 2019 13:14 CET | News

Swedbank has announced that its private and corporate customers can now transfer money by using instant payments online.

In the first phase, the new form of payment can be used to make in-bank and domestic payments. 

Payments up to EUR 15,000 in instant payments reach the recipient in a few seconds and can be made to all local banks that offer the opportunity of receiving them. Swedbank customers can make instant payments within Swedbank itself, Coop Pank, LHV and SEB. For outgoing instant payments there are no additional fees, the same as for ordinary domestic payments done in euros.

Swedbank customers are already able to receive instant payments from other European banks that have joined SEPA Instant Credit Transfer scheme. The existence of instant payment opportunity can be checked on the EBA Clearing website. Incoming instant payments, as well as other SEPA payments in euro, are not charged extra.

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Keywords: Swedbank, instant payments, online bank, payments , money transfer
Countries: World