SEPA Instant Payments - now live

There are a few non-UE countries in the SEPA so I do hope the UK will remain in it despite the Brexit :hugs:

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I hope we get to a point where I can pay in euro, to be honest. I’m a pretty big fan of SEPA too :ok_hand:

faster payments isn’t that bad, but it’s a pity Revolut doesn’t allow direct debits in its home country.

otoh the UK reserves its right to ruin itself as it sees fit, for that it requires its own currency

If Revolut is connected to faster payments I’ll eat my hat. It’s the slowest transfer on the planet.

Should be coming within the first half of 2019. So should most of the things promised in February last year, according to Chad West.

I don’t want Brexit, can you adopt or marry me so I can get your citizenship? :joy:

That’s because the UK wants our own printed notes with the monarchy on them, that’s just how the UK rolls. We also like the ability to inflate and deflate our currency, I’m sure we’d be open to adopting it if common monetary policy became a thing in the EU.

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Polymer notes are pretty cool (+1 to UK).
Don’t know why EU don’t use such thing for euro :expressionless:

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I very much dislike polymer notes. They fold and once they fold they’re creased forever, the old notes were much easier to uncrease.

Possibly because of how difficult it is. The UK still have 20£ notes that are “paper” and the rollout of notes has taken a while. Polymer 20£ notes are coming 2020, not sure about 50£ notes.

on a cashless tracked society like the one being built there is no use for notes larger than a “20” imo. 50+ are for off-the-books activities.

With Transferwise now paying out EURs via SEPA instant transfers, Revolut is loosing some ground here. Bunq also offers SCT Inst as the standard for SEPA transfers.

I can understand holding back on investments to enable SCT Inst – but calling a regular SEPA transfer “turbo” is a bad idea. :woozy_face:

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Last time I made a SEPA transfer to an account it was there in a few hours. Is SEPA Instant like real instant or is there a delay?

There should be max. a very short delay if banks support it (few Mins., with technical problems )

Regulation says the SCT inst transfer must be available at the receiver’s account within 20 seconds.

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Thanks. I am already satisfied that it only took a few hours. That’s like totally new for me. I’m used to like two days. :sweat_smile:

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I’m used to a few seconds for domestic transfers in Denmark so it has been hard for me :confused:. I hope that :r: will support both SEPA Instant and SWIFT Instant for non-Euro transfers.

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Yeah with Lunar Way I can transfer money and since my other bank’s online bank updates immediately, I can see that it takes less than 2 seconds from the “tick” from Lunar Way to the money arriving in my other account. I’d just wish Revolut did the same.

Also used to instant transfers in the UK :sweat_smile:

Not that I use euro enough to make it matter

Looks interesting, but also has no Apple Pay.

French banks are now adopting instant transfers (online banks for free, oldies charge 1 euro for no reason expect pure profit). It’s a must have for Revolut in 2019.

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Strange that sepa instant payments not implemented in Revolut yet. Its cool feature not many “real” banks offer. Is it really so expensive to use or other reason?

That might be the reason. If no other bank offers it, for what do you want to use it?
But I would assume, that it will come sooner or later.

I have a bunq premium account and instant payments work perfect without any issues for me. There are no additional fees charged.

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