Europe is actively rolling out Instant Payments

Based on the European standard - the ‘SEPA Instant Credit Transfer Scheme Rulebook’ published by the European Payments Council (EPC) - payment service providers are offering Instant Payments in euro in the SEPA zone since its introduction in November 2017.

Participation (adherence to this SEPA standard) is optional, therefore not all banks and their accounts are reachable for Instant Payments. For a complete overview of the participants please check the monthly update on the EPC website.

Instant Payments in The Netherlands are implemented according to this SEPA standard. Two additional features are implemented on top of this standard, specifically for the Dutch market:

  • the Instant Payment transaction will take no more than 5 seconds, where the European standard caters for 10 seconds
  • any amount is possible for an Instant Payment within The Netherlands; for European (x-border transactions) a maximum amount limit of
    € 15,000 per instant payment is applicable.

These features are specified in the NL Standards.

At the start of Instant Payments the Dutch customer will first and foremost experience Instant Payments within the Netherlands. Instant Payments from and to other countries in Europe will increasingly be possible.

  • 31% - Belgium
  • 4% - Bulgaria
  • 6% - Cyprus
  • 2% - Denmark
  • 87% - Germany
  • 40% - Estonia
  • 50% - Finland
  • 44% - France
  • 4% - Italy
  • 20% - Latvia
  • 16% - Lithuania
  • 2% - Luxembourg
  • 12% - Malta
  • 7% - Monaco
  • 16% - Netherlands
  • 86% - Austria
  • 39% - Portugal
  • 72% - Spain
  • 8% - United Kingdom
  • 11% - Sweden
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