SEPA Instant

Note: short planned outages may occur; you’ll be notified in advance.

All euro-area Credit Unions/banks/payment service providers must receive SEPA Instant from Jan 2025 and send from 9 Oct 2025. EU/EEA non-euro PSPs: receive by Jan 2027, send by Jul 2027. Non-EU SEPA countries (e.g. UK, Switzerland) may adopt voluntarily.

Fees are the same as standard SEPA payments.

No registration required. SEPA Instant will be available through your existing channels (mobile/online banking and in-branch).

Use your usual payment journey in mobile/online banking or request in-branch; if both PSPs support Instant, it will process instantly.

From payment accounts such as current accounts and some deposit accounts.

Yes — you can set Instant limits within your Credit Union’s overall payment limits.

Contact the Credit Union’s support team (phone/in-branch). See our website for the latest details.

All standard SEPA and SEPA Instant payments (all channels). Standing Orders are checked when first set up; in-branch paper payments are checked at processing time. Some payee account types may not support a VoP result.

• Non-euro payments
• Card payments
• Direct debits
• Member-not-present paper payments (e.g., by post)

It applies when you make a standard or Instant SEPA payment and may also apply when you add or update a payee. Roll-out begins early October and will be in place by 9 Oct 2025.

• Match: Name and IBAN match — you can proceed or cancel.
• No match: Names don’t match — check details; you can proceed, amend or cancel.
• Close/partial match: Similar name — we show the correct name; you can proceed, amend or cancel.
• Service unavailable: We can’t confirm — verify details and retry later if needed.

You remain in control and decide whether to proceed.

No. VoP will not automatically stop a payment; it provides guidance so you can decide. We advise verifying details with the payee before proceeding if you see “no match” or “service unavailable”.

• Greater confidence your money reaches the intended payee
• Reduced risk of errors/misdirected payments
• Fewer rejects/returns thanks to more accurate details

VoP checks are automatic and cannot be opted out of (part of the EU Instant Payments Regulation).

• Enter the payee’s full name (first & last) exactly as registered.
• If you get a close/no match, verify the name/IBAN with the payee via a trusted channel.
• Keep saved payees up to date. As a payee, share your registered full name.

Individuals: checked against first & last names of account holder(s); enter one full name.
Businesses: checked against registered legal names/legal abbreviations/trade names.
Joint accounts: enter the full name of any one account holder.

Your name is shown only when the sender entered a slightly different/incorrect name (a “close match”). Otherwise, it isn’t disclosed.

A valid (but wrong) IBAN might still return a match/close match. Always confirm details with the recipient using a trusted method before paying.

Ensure your account name with your provider matches how you usually share it (include middle name if you typically use it).

Cross-border euro payments in the eurozone are treated the same as domestic payments for SEPA Instant and VoP. EU non-euro countries must adopt by 2027; non-EU SEPA countries (e.g. UK/CH) may adopt later.

VoP is free for customers and does not delay payment processing once you approve the payment.

Contact the Credit Union support team (phone or in-branch). See our website for the latest contact details and hours.