What is SEPA?

The Single Euro Payment Area (‘SEPA’) is an initiative to simplify euro payments. It is changing to introduce payments that get processed within seconds every day.

The change to payments coming into payment accounts will happen from 9 January 2025; and to payments coming out of payment accounts on 9 October 2025.

What is a SEPA credit transfer?

A SEPA Credit Transfer (SCT) is an electronic transfer of money, from one account to another, in the SEPA Zone.

What is a SEPA Instant Credit Transfer?

A SEPA Instant Credit Transfer allows the transfer of money between two payment accounts in the SEPA zone within seconds, every day.

What will happen on the 9th of January?

You will be able to receive SEPA Instant Payments into your payment account from another payment providers payment account immediately.

Is there a maximum amount for a SEPA Instant Credit Transfer into an account?

A maximum amount applies to SEPA Instant Credit Transfers. Please contact us on 012990400 to discuss this matter with our member services team.

Can I receive a SEPA Instant Credit Transfer on a non-business day?

SEPA instant credit transfer to your payment account can happen at any time on any day, including weekends and bank holidays.

Will I have access to my money immediately?

Yes, you will have access to money immediately at any time on any day.

What currencies are covered by SEPA?

Euro

Do I need to sign up or do anything additional to receive Incoming SEPA Instant Credit Transfers?

No, you don’t need to sign up or do anything additional.

Can I make an outgoing SEPA Instant Credit Transfer with Capital Credit Union?

Yes, but it will be later in 2025 and we’ll let you know closer to the time.

Are there additional fees for receiving SEPA Instant Credit Transfers?

No there are no additional fees for receiving a SEPA instant payment.