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SEPA Instant

Direct Money Transfers
Ancoria Bank gives you the opportunity to make direct money transfers in euros to countries in the SEPA zone through SEPA Instant. This way you can transfer money quickly and securely, ensuring that payments reach their destination in seconds, 24/7, 365 days a year.

SEPA Instant

  • Direct money transfer in euros to the recipient’s account
  • Transfer money anywhere and anytime through myAncoria including weekends and holidays
  • The recipient’s Bank should also support SEPA Instant payments
  • Valid for 36 countries, which are members of the Single Euro Payments Area (SEPA)

SEPA is an area where consumers can pay and receive payments in euros electronically, within and across borders, having the same characteristics, obligations and rights wherever they are based. In this way, cross-border payments are facilitated, since they are carried out in the same way as domestic payments.

In order to perform a SEPA transfer you will need the name of the recipient (consumer or business), the IBAN of the recipient and the exact amount.

SEPA has many benefits for payments in the European area. First of all, it significantly reduces the time required to carry out cross-border transactions ensuring more efficient payment processing. Moreover, by standardizing payments, SEPA reduces transaction costs for consumers and businesses and it is ensured that participating countries consistently follow rules and standards, which provide transparency and reliability in the payment process. In addition, SEPA promotes financial integration in Europe by guaranteeing financial stability and facilitating cross-border trade relations and last but not least it simplifies the process of making and receiving payments between participating countries.

Whether it’s everyday transactions, urgent payments, or recurring ones, SEPA makes sure they are quick, easy and simple, while prioritizing financial stability in Europe.

You can find out more about SEPA here.

 

If you have any questions or simply need some help

Contact us

Frequently Asked Questions

Which countries constitute SEPA?

36 countries participate in SEPA:

  • The 27 member states of the European Union
  • Iceland, Liechtenstein, Norway and Switzerland
  • Vatican City, San Marino. Monaco, Andorra
  • The United Kingdom

Can I pay in a currency other than Euro?

No. SEPA payments are made in euros only.

What is SEPA Instant?

SEPA Instant is a type of SEPA payment through which 24/7 direct euro transfers are provided to SEPA member countries.

How long does it take to complete a SEPA Instant transfer?

It takes a few seconds to process the transaction, 365 days a year, 24 hours a day, and the money is immediately available to the recipient.

What is the maximum daily transfer amount?

For Individuals the maximum daily limit is €10,000.
For Businesses the maximum daily limit is €25,000.

What are Ancoria Bank's processing fees for outgoing SEPA Instant money transfers?

For details about processing fees, please refer to our Table of Commissions & Charges.

Can I revoke a SEPA Instant payment?

Because the transfer is immediate, the payment cannot be revoked before it is processed. You can submit a request for revocation after its completion. The recipient’s approval/consent is required for the refund.