Immediately after the European instant payments infrastructure was officially in operation, UniCredit conducted its inaugural instant payment from Germany to Italy.
This makes UniCredit the first bank to offer real-time payments in Germany and the first to use the format for a cross-border payment.
The launch marks the beginning of the bank’s roll out of instant payments in line with the European Payments Council’s (EPC) SEPA Instant Credit Transfer (SCT Inst) scheme, as originally initiated by the European Central Bank. Instant payments allow clients to conduct payments within only a few seconds. As set by the EPC, there is a limit of 15,000 euro per transaction.
UniCredit now offers instant payment execution for inbound payments in Italy and Germany and outbound payment execution in Germany. Outbound payment execution in Italy will be available on February 22, 2018.
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