About
SEPA Instant Credit Transfer (SCT Inst) is the European Payments Council's euro instant-payment scheme, live since November 2017 and the rail Estonian banks use for instant transfers between accounts. The EPC rulebook gives the payer's bank, the payee's bank and the clearing system at most nine seconds to complete a transfer, 24 hours a day, every day, with no scheme-level amount cap. The first Estonian banks joined in 2018, settling through the pan-European RT1 system, and in 2021 they also joined the Eurosystem's TIPS, which settles on accounts at the central bank. Under EU Regulation 2024/886, euro-area banks have had to offer sending instant payments since 9 October 2025.
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