APS Bank has introduced the SEPA Incoming Instant Payments service, bringing a transformative shift in its banking offer by enabling real-time fund transfers.
This new system aligns with EU regulations promoting faster, safer, and more efficient banking. It allows customers to receive funds, in under 10 seconds, around the clock, every day of the year. The same level of service will be extended to Outgoing Instant Payments by October 2025, in line with the EU regulatory timelines.
APS customers no longer need to wait for incoming payments to clear, making day-to-day transactions smoother and more efficient. Businesses will benefit from quicker transaction settlements, leading to improved operational efficiency. The service also enhances financial security, as customers can access funds immediately and verify transactions in real-time, reducing the risk of delayed or lost-in-transit payments.
Edward Calleja, Chief Operations Officer, stated: “We have been investing heavily in providing efficient payment solutions, being the first to remove all charges on SEPA transfers in 2023. Our commitment to cost-effective, user-friendly payment services continues.”
