Instant Credit Transfer Service – SEPA Instant Payments
You need to enter or select the recipient’s IBAN, their Full Name/Business Name and/or Tax Identification Number (TIN), the amount you wish to send, as well as their country, city, and address. Then, choose the transfer priority as “Instant”.
The daily limit for outgoing Instant Payments transactions is:
-
€1,000 per day to banks within Greece, and
-
€1,000 per day to other banks abroad in SEPA countries.
You are charged the same fees as with regular SCT transfers. In any case, before completing the transaction you are informed of the commission fee you will be charged. For detailed information, you can refer to the Fee Schedule, which is published on the Bank’s website.
You can place an order online through your eBanking or MobileApp 24 hours a day, 365 days a year.
The transaction is automatically rejected, and both the amount and the transaction fees are returned to the account you were charged from, without any action required on your part.
In the case of an Instant money transfer, you are notified by a text message about whether your transaction has been completed or not. In particular, if the transaction is rejected, the reason for the rejection is also stated.
This functionality is provided without the need to activate any additional notification service and at no extra cost.
To be able to transfer money using the Instant Payments service, it is necessary to know and enter the recipient’s IBAN.
Differences between the two services, as they currently stand:
-
The Instant service does not require user registration, while the IRIS service requires registration.
-
The Instant service is available via eBanking/MobileApp, whereas the IRIS service is only available via MobileApp.
-
The Instant service is available to all customers, while the IRIS service is available to individuals, freelancers, and sole proprietorships.
-
The Instant service uses the IBAN, while the IRIS service uses an identifier (e.g., mobile phone number, Tax Identification Number).
-
The Instant service applies to SEPA countries, while the IRIS service applies only to transactions within Greece.
-
Compared to IRIS, the Instant service allows transfers of larger amounts.
Instant transactions cannot be canceled, as their execution is completed immediately.
