Did you know that you can now make a transfer in less than 10 seconds to anywhere in Europe?
You can now send money anywhere in Europe instantaneously. 24 hours a day, every day of the year.
Until now, you would transfer money to an account and the money would not arrive in the account until the following day.
This has changed with the new service developed by the European Central Bank. It’s called TIPS ("Target Instant Payment Settlement") and is now available at banks.
TIPS processes payment transactions in just a few seconds to anywhere in Europe
- individual to individual,
- individuals to companies,
- and companies to companies.
Both the issuer and the beneficiary will receive instantaneous confirmation and the latter may use the money immediately.
It should be borne in mind that:
- The maximum amount is €15,000
- You may be charged commission, but you will have been duly informed beforehand.