SEPA Instant

FAQs

SEPA

• 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 the SEPA Zone?

  The SEPA Zone is what the European Payments Council call the geographical area where its SEPA schemes operate. Member states that comprise the SEPA Zone include the 27 EU member states, the three European Economic Area member states (Iceland, Liechtenstein and Norway) as well as some non EEA countries ( Andorra, Albania, Monaco, Montenegro, Moldova, North Macedonia, San Marino, Switzerland, UK and Vatican City).

  It also includes a number of territories such as Saint-Pierre-et-Miquelon, Guernsey, Jersey, and the Isle of Man.

• Which banks/payment service providers offer SEPA Instant?

  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). 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 but payment service providers in these countries can voluntarily join at any stage.

SEPA Instant

• 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 time, any day, including weekends and bank holidays. 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.

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

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

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

  You will get a notification letting you know if your 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 is automatically available to you on our 365 mobile app, on 365 online, on 365 phone, when you complete a paper interpay form in our branches and on the electronic interpay form available on our website.

• 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’s payment service provider/bank is reachable for SEPA Instant payments.

Sending and receiving SEPA Instant payments

• Where and when can I send SEPA Instant payments?

  You can send 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: speak to an agent during business hours (9am to 5pm, Monday to Friday)
  • In a branch: during opening hours, using a paper interpay form (Cut-off times apply. Payments presented in a branch are not processed immediately. If you make the payment before 2pm, it will be processed on the same day. After 2pm, it may be processed on the next working day)
  • Online: using the electronic interpay form on the Bank of Ireland website (Cut-off times apply. Payments made are not processed immediately. If you complete the payment online and present it in a branch before 2pm, it will be processed on the same day. After 2pm, it may be processed on the next working day).

• Why would I choose to send a SEPA Instant instead of a SEPA Standard payment?

  SEPA Instant payments are a faster way to send money to a payment account. They are processed within 10 seconds, 24 hours a day, any day of the year.

  SEPA Standard payments can take between one and two business days to reach the payee’s payment service provider or bank.

  Please see the below FAQ ‘What accounts can I use to send and receive SEPA Instant payments?’ for more information.

• What accounts can I use to send and receive SEPA Instant payments?

  You can send and receive SEPA Instant payments to/from your payment accounts (for example, your current account) 24 hours a day, any day of the year.

  However, SEPA Instant payments cannot be sent from or received into non-payment account types including loan, mortgage, credit card accounts, certain deposit accounts and global market accounts.

  If you send a SEPA Instant payment to an account that cannot be credited under SEPA Instant, the payment will be rejected for SEPA Instant. When this happens, we’ll notify you, and you can choose to resend it as a SEPA Standard payment instead.

  Note: Accounts that can send and receive SEPA Instant payments vary across payment service providers. If an account does not accept SEPA Instant payments, you can use an alternative payment method. For example, a SEPA Standard payment.

• Can I set SEPA Instant payment limits?

  Yes. You are 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 the following channels – the 365 mobile app, 365 online, and 365 phone. Limits will last from midnight to midnight, seven days a week across all jurisdictions for SEPA Instant and SEPA payments.

• What happens if a SEPA Instant payment is rejected?

  If your SEPA Instant payment is unsuccessful, here’s what you can expect:

  • Using the 365 mobile app or 365 online:

    You will receive an on-screen error message. It will confirm that the payment was unsuccessful and tell you the reason why. You will see a debit and a credit on your account to reflect the rejection.

  • If you submitted an electronic Interpay form:

    You will receive an SMS message, it will confirm that the payment was unsuccessful and tell you the reason why.

SEPA Instant payments via open banking

• What is open banking?

  Open banking is a secure service that allows you to share your Bank of Ireland account information with authorised third-party service providers, such as budgeting apps, accounting software providers, or payment services. These providers can only access your information or make payments from your account with your permission.

• What is changing?

  If you make a SEPA Instant payment from your Bank of Ireland account using open banking through a third-party service provider, you will receive a notification on your primary device if enabled (such as a mobile phone or tablet) confirming the outcome of your payment.

• What type of transaction is affected?

  The change applies to SEPA Instant payments from your Bank of Ireland account through open banking.

• Are there any changes to SEPA Instant payments made directly through the Bank of Ireland Mobile Banking app or desktop banking?

  No. If you are making SEPA Instant payments directly through the app or through desktop banking, you will still get the payment outcome onscreen while you’re completing the transaction.

• Do I need to allow notifications?

  Yes. To see what the outcome of your SEPA Instant payment was, you must allow notifications for Bank of Ireland on your primary device.

• What should I do if I do not get a notification?

  If you do not get a notification, check that:

  • The payment was made using open banking (for example, through a service provider)
  • Notifications are enabled on your device
  • Notifications are turned on for Bank of Ireland

  Follow the instructions below based on your device:

  iPhone

  • Swipe down from the top left edge of the screen.
  • If your phone is locked, swipe up from the middle of the lock screen.

  Note: Swiping from the top right opens the control centre instead.

  Android

  • Swipe down from the very top edge of the screen.

  Mac

  • Click the date and time in the top right corner of the menu bar.
  • Alternatively, swipe left with two fingers from the right edge of the trackpad.

  Windows

  • Press Windows key + N.
  • Or click the date and time displayed on the far right of the taskbar.

• Will I get the notification if I am not logged into the app?

  Yes. Notifications can be received whether you are logged in to the app or not, as long as you have enabled them on your device and for the app.

• How long will the notification remain visible?

  The notification will be available in your device’s notification centre (or equivalent notification area), subject to your device settings and notification preferences.

• How do I view notifications on my device?

  Follow the instructions below based on your device:

  iPhone

  • Swipe down from the top left edge of the screen.
  • If your phone is locked, swipe up from the middle of the lock screen.

  Note: Swiping from the top right opens the control centre instead.

  Android

  • Swipe down from the very top edge of the screen.

  Mac

  • Click the date and time in the top right corner of the menu bar.
  • Alternatively, swipe left with two fingers from the right edge of the trackpad.

  Windows

  • Press Windows key + N.
  • Or click the date and time displayed on the far right of the taskbar.

  If everything is set up correctly and you’re still not getting notifications, contact us on 0818 365 365 so we can help you with this.

• Keep your account safe

  We will never call, text or email asking you to share your six-digit passcode, one-time activation codes or your full 365 PIN. We will never ask for your full card details. Do not share them. Remember, we will never ask you to transfer money out of your account to protect yourself from fraud. For more information, visit Security Zone on our website.