Overview of SEPA

SEPA, the Single Euro Payments Area, is European-driven regulation which aims to create one single, integrated and standardised payments market making it easier to do business across Europe.

SEPA Instant FAQs

Please check this page for future updates.

  • What is SEPA?

    SEPA is the Single European Payments Area. It has a number of payment schemes such as SEPA credit transfers (non-urgent), SEPA Instant payments and SEPA direct debits. They are all governed by individual SEPA Scheme rules, run by the European Payment Council (EPC). All payment service providers/banks that sign up to the schemes must follow these rules.

  • What is a SEPA Instant payment?

    A SEPA Instant payment (also known as a SEPA Instant credit transfer) enables funds to be transferred from one payment account to another, in euro, within 10 seconds, 24 hours a day, any day of the year including bank holiday and weekends. There are a few exceptions to this. For example, times when the system might be unavailable due to planned maintenance. We will let you know about these in advance. You have been able to receive SEPA Instant payments from January 2025. You will be able to send SEPA Instant payments by 9 October 2025.

  • What is the SEPA Zone?

    The SEPA Zone is what the EPC call the geographical area where its SEPA schemes operate.

  • Which banks/payment service providers will offer SEPA Instant?

    In 2025, only countries in the EU that have the euro as their main currency are mandated to receive SEPA Instant payments (from Jan 2025) and mandated to send out SEPA Instant payments (from Oct 2025). Payment service providers including banks in other countries within the SEPA Zone can voluntarily join the scheme. Countries in EU/EEA where the euro is not their main currency, will be mandated to receive SEPA Instant payments from Jan 2027 and to send SEPA Instant payments from July 2027. Non-EEA countries in the SEPA Zone are not mandated to send or receive SEPA Instant payments.

  • What is the main difference between SEPA Instant payments and SEPA payments?

    SEPA payments: payments can take between one and two business days to reach the payee/beneficiary payment service provider/bank.

    SEPA Instant payments: payments, if successful, are credited to the payee/beneficiary within 10 seconds of the payment being made, 24/7, any day of the year.

    Customers will get a notification letting them know if their SEPA Instant payment has been successfully processed or if it has been rejected. If a payment is rejected, the notification will say why the SEPA Instant payment was rejected.

  • Are there any additional fees for using SEPA Instant?

    There are no additional fees to use SEPA Instant.

  • Do I need to register for SEPA Instant?

    SEPA Instant will be automatically available to you on our 365 mobile app, on 365 online and when you complete manual forms in our branches.

  • Can I opt out of SEPA Instant?

    You can choose whether to make a payment using SEPA Instant or SEPA. If you choose SEPA Instant, you will be able to make a payment if the payee/beneficiary payment service provider/bank is reachable for SEPA Instant payments.

  • Where and when can I make SEPA Instant payments?

    You can make SEPA Instant payments in the following ways (except during scheduled maintenance periods, which we’ll tell you about in advance):

    • 365 mobile app and 365 online: available 24/7
    • 365 phone: by speaking to an agent during business hours, and outside business hours, by following self-service instructions
    • Branch: During branch opening hours, using a paper interpay form.
  • When can I receive SEPA Instant payments into my account?

    Since 9 January 2025, you’ve been able to receive SEPA Instant payments into your payment accounts (for example, your current account) 24 hours a day, any day of the year. Accounts that cannot receive SEPA Instant payments include loans, mortgages, certain deposit accounts, credit card accounts and Global Market accounts.

  • How do I send a SEPA Instant payment?

    On or before 9 October 2025, we’ll give you a full explanation of all the ways that you can make a SEPA Instant payment.

  • Can I set SEPA Instant payment limits?

    Yes. You’ll be able to set a daily limit or a transaction limit for making SEPA Instant payments on our 365 mobile app or on 365 online. This limit cannot be more than the overall Bank of Ireland limit that applies to all your payments across these channels.