IIG Bank has launched SEPA Incoming instant payments. The Single Euro Payments Area (SEPA) is a system for transferring funds between European bank accounts. With SEPA Incoming Instant Payments, transactions of up to €100,000 are processed in under 10 seconds, 24/7, including weekends and holidays. For businesses, this means improved cash flow management, and for individuals, it provides immediate access to funds.

This change to the SEPA Regulation stems from an EU Regulation, namely the “Instant Payments Regulation” (IPR), which came into effect on January 9, 2025. The objective is to accelerate the processing of payments in Europe for both domestic and cross border transfers denominated in euro within the European Union.

The introduction of SEPA Incoming Instant Payments was made possible thanks to IIG Bank’s substantial investment in its core IT infrastructure. “Achieving this milestone reflects our commitment to remain focused on innovation, bespoke service and customer satisfaction,” said Raymond Busuttil, CEO and managing director at IIG Bank.

Karl Vella, deputy CEO and Chief Financial Officer, added: “The successful launch of the SEPA Incoming Instant Payments was the result of dedicated work by teams across multiple departments who worked tirelessly to deploy the systems and processes required to deliver real-time payment capabilities to clients.”

With this launch, IIG Bank reaffirms its commitment to maintain its position at the forefront of service delivery to its loyal customers in a rapidly evolving financial services industry.

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