HSBC Bank Malta said that starting today, it is “fully prepared to receive SEPA instant payments, thanks to significant upgrades to its systems.”
SEPA Instant Payments allow euro transactions to be completed within just 10 seconds, regardless of the time or day, including weekends and public holidays.
The Bank said that it has met the compliance requirements for SEPA Instant Payments ahead of the EU regulatory deadlines set for 2025. These enhancements ensure payments received during weekends and public holidays will be immediately posted and value-dated, offering seamless and uninterrupted service to clients.
“SEPA Instant Payments mark a significant step forward in creating a more efficient and equitable payment system across the EU. At HSBC Malta, we are proud to be leading this transition. By completing our system upgrades early and finalising internal testing, we can provide our customers with a reliable and modern banking experience that meets their evolving needs,” Geoffrey Fichte, CEO of HSBC Bank Malta, said of the milestone.
The regulation, which comes into effect in two stages – 8th of January for receiving and 8th of October for sending SEPA instant payments – also mandates equal charges for instant payments and standard SEPA transfers.
Photo: HSBC Malta