Enable SEPA Instant payments

Miroslav-Aquamarine-Shark

Some banks in Europe supports SEPA Instant but not RT1 instant payments. So it should be great if Bunq would enable SEPA Instant payments next to RT1 instant payments.

johannes

Miroslav Hey Miroslav!
RT1 = SEPA Instant Payments, SEPA Instant Payments is like a "rulebook" on how it has to be implemented.
So bunq is already supporting SEPA Instant Payments, but only the RT1 system.

What you are probably asking for is "TIPS", the SEPA Instant Payments system from the ECB, which I asked for here already:
https://together.bunq.com/d/2710-will-you-support-target-instant-payment-settlement-tips-if-its-ready

Sadly, bunq didn't provide any update about it for a long time, so who knows if they will ever support it.

Miroslav-Aquamarine-Shark

Johannes 🇦🇺 You are right, I mean "TIPS" system from the ECB. Thanks for the correction!

DunLaoghaire

bunq is listed in https://www.europeanpaymentscouncil.eu/sites/default/files/participants_export/sct_inst/sct_inst.pdf?v=1591914611 as a bank that supports SEPA Instant payments. Same as Revolut which only recently activated it on 1 June.

I just sent money from Revolut to bunq. Even after 30 mins, I can still see the payment in Pending status in Revolut. On the bunq side, I don’t see anything yet. Very disappointing!

Can anyone confirm SEPA Instant works with bunq? Ideally also tried it between Revolut and bunq?

Jakob-Y

DunLaoghaire Can anyone confirm SEPA Instant works with bunq?

Can confirm. Use it all the time. Both receiving and sending.

DunLaoghaire Ideally also tried it between Revolut and bunq?

No, I don't use Revolut. But even when two banks support SCT Inst in general, that doesn't mean that it's possible to send instant transfers between them. The banks will only allow an instant transfer if they have tested it with the other bank's system and made sure everything works. Best thing to do here send support requests to both banks to tell them that the respective other bank also supports SCT Inst and that they should make it possible to send instant payments between them, and then wait.

Edit: I see you mentioned Revolut only has it for one week. Yes then it's completely normal that it doesn't work right now. I experienced the same thing at many other banks who started to support SCT Inst -- it always takes some time.

Elias-Purple-Wolf

Jakob Kost wat tijd? het is al 2 jaar zo, als het al niet langer is

New-Aquamarine-Shark-3790411811

Elias-Purple-Wolf

God verdomme Bunq 2021 en nog geen instant payment met andere banken. Dit is de grootste reden dat ik bij jullie weg ga ik zit met klanten die wachten op betalingen en jullie doen er gewoon 2 dagen over. Zeer slechte zakelijke bank zijn jullie. Alles is perfect maar op gebied van betalen zijn jullie de slechtste van Europa

Jakob-Y

Elias I don't use Revolut. The instant payments at bunq are still working fine of course. Because bunq uses both the TIPS and RT1 network for instant payments for both incoming and outgoing payments, the coverage is better than at most other banks.

Only for Dutch customers it might be less good, because Dutch banks also have their own systems and most of them don't participate in the bigger European instant payment schemes. Not really an issue for me as a non-Dutchie though, I'd rather have more overall coverage.

Elias-Purple-Wolf

Jakob Ik ben al bij één andere bank (Rabobank) aangemeld. bunq is leuk voor kinderen maar voor voor bedrijven die snel groeien heeft bunq geen goede service

Erika ?? ??-Silver-Turtle

Hello bunqers, 🌈

We're more than happy to see your involvement in this topic. Please be aware that we support instant transfers between RT1 participants and also the TIPS system. 💶

We're working on expanding the horizons of the instant transfers on our side, so we'd like to thank you for the feedback. 💪

Cheers,
Erika 🎉

New-Magenta-Dolphin-2906553301

Hi, is there any update from BUNQ to include SEPA Instant payments? Thank you! 👌

Jakob-Y

Carlos SEPA Instant Payments are supported via both TIPS and RT1. What would you like an update about?

Luke-Azure-Dragon

What about SEPA SCT instant transfers?

Transfers to some (maybe all) companies with bank accounts that work with SEPA SCT instant, are not instant. Resulting in delays, often hours or even till mid next day. Bunq to Clearjunction bank for instance.

Jakob-Y

Luke What about SEPA SCT instant transfers?

Supported over both major networks as written above. Works perfectly fine for me, but ClearJunction accounts for cryptocurrency exchanges might be limited on purpose because of higher fraud rates. Not sure if that is what you're referring to. In any case you can look up if the bank that you want to send an SCT Instant transfer to is connected to TIPS (new ECB system) or RT1 (classic SCT Instant) on their respective websites. For bunq it doesn't matter, they're connected to both and accept both incoming and outgoing instant payments.

Remzi

@Jakob If this is the case why does it take a couple of hours to transfer funds from my Bunq account to Revolut? Now I use iDEAL but I shouldn't have to just to transfer instant money to Revolut. Revolut supports instant payments, so I don't know what's the issue.

beekie

Remzi

sinds we bij Revolut een Nederlandse iban hebben, duurt dit inderdaad erg lang met een instant payment.
bunq verstuurt het meteen, het lijkt bij Revolut te liggen dat het zo lang duurt. ideal werk veel beter ja.

beekie

ik heb vanmiddag 2x met ideal geld overgezet naar Revolut, en stond er meteen op.