Sometimes, you can take it slow. Other times, things can't go fast enough - including transfers. Instant Payments (SEPA) are a convenient way to transfer money in almost real-time within the European Union and the European Economic Area (i.e. all EU countries plus Iceland, Liechtenstein & Norway). Please read further to find out what Instant Payment (SEPA) is, how it works & what to consider.
Send now: Instant Payments (SEPA)
Last Article Update 10.03.2025
The Austrian National Bank calls it SEPA Instant Credit Transfer, but George calls it Instant Payment (SEPA). Instant Payments (SEPA) are available 24/7, 365 days a year. This payment type is a close-to-immediate (i.e. within a few seconds) payment, transferring the desired amount of money (up to 100,000 Euros) to a dedicated account.
As Instant Payments (SEPA) are only available within the European Union and the European Economic Area, George can only execute
- Domestic transfers and
- SEPA-Foreign transfers within the European Union
as Instant Payments (SEPA). All transfer types must be executed with the Euro as the currency!
For more information about Instant Payments (SEPA), respectively SEPA Instant Credit Transfers, George recommends the Website of the Austrian National Bank.
App
1. Create a new transfer (domestic or within the European Union).
2. Search for a contact to whom you want to transfer money. Or enter a new recipient.
3. Enter the amount in Euros you want to transfer.
4. On the transfer summary screen, you will find the item "Execution type".
Tap on the field to activate Instant Payment (SEPA) & tap on "Done".
Web Browser
1. Create a new transfer (domestic or within the European Union).
2. Fill the transfer form as you would usually do.
3. Below the transfer date, you will find the item "Execution type". Click on the checkbox to activate Instant Payment (SEPA).
In the last step, sign your transfer. If the transfer can be executed as Instant Payment (SEPA), George will do so. Otherwise, he will execute your transfer as a regular SEPA transfer.
Of course, you can also save this Instant Payment (SEPA) transfer as a template to reuse it at a later time.
Author: Samira El-Shamy