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What Is The Execution Time Cycle For A Sepa Credit Transfer? |
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Answer» Since 1 January 2012, the PAYMENT Services Directive has obligated all payment service providers to ADHERE to strict time limits in the execution of payments (“D+1”). A SEPA credit TRANSFER must be credited to the account of the payee, at the latest, one business day after receipt of the credit transfer instruction by the payer’s payment service provider. If the instruction is given on paper, the maximum execution PERIOD can be extended by one additional business day. Since 1 January 2012, the Payment Services Directive has obligated all payment service providers to adhere to strict time limits in the execution of payments (“D+1”). A SEPA credit transfer must be credited to the account of the payee, at the latest, one business day after receipt of the credit transfer instruction by the payer’s payment service provider. If the instruction is given on paper, the maximum execution period can be extended by one additional business day. |
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