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News

A new maximum amount for the SEPA Instant Credit Transfer (STC Inst) scheme is live

Wednesday 1 July 2020 11:02 CET | News

The new maximum amount for the SEPA Instant Credit Transfer (STC Inst) scheme has come into effect on July 1, 2020.

Payment end-users can now transfer to up to EUR 100,000 per SCT Inst transaction. This results from a decision which the Scheme Management Board (SMB) of the European Payments Council (EPC) took on September 12, 2019. Previously, the maximum amount per a single transaction was set at EUR 15,000.

This new maximum transfer amount gives payment end-users (especially companies and public administrations) more opportunities to use the SCT Inst scheme for higher-value payments (e.g., the purchase of higher value goods or services, the payment of taxes). The SCT Inst scheme can be used for national and cross-border euro payments and is available 24/7/365.

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Keywords: cross border payments, higher value payments, Europe, SEPA Instant Credit Transfer, STC Inst, payments
Categories: Banking & Fintech
Companies:
Countries: Europe
This article is part of category

Banking & Fintech

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