The system enables instant money transfers from a bank account to another bank account; an instant payment is a transfer in euros from an account within the SEPA zone, which is credited to the recipient’s account within a few seconds. This is only possible if the recipient’s bank cooperates, and the amount that can be transferred is currently limited to no more than EUR 15,000. There is no extra charge for instant payment transfers by personal customers; business clients pay the standard SEPA transfer fee.
The bank also allows customers to see whether the money has been received by the recipient, and at what time. This also applies for transfers between two ABN AMRO accounts. In that case, there is no maximum amount.
The user enters a transfer via Mobile Banking or Internet Banking. The bank checks automatically whether the money can be credited to the recipient’s account within a few seconds. If the transfer cannot be completed within a few seconds, the summary will contain the message within one working day.
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