Real-time transfer

from Wikipedia, the free encyclopedia

The real-time transfer and SEPA Instant Payment is in cash payments , a payment method in which the online banking payment transactions from the payer to credit the payee require a maximum of 10 seconds.

requirement

The prerequisite for SEPA real-time transfers is that the sending bank offers to send and that the recipient bank offers to receive. Both are voluntary. The Unicredit Bank was the first and for a long time the only bank in Germany that also offered receiving. As of August 2020, practically all German banks offer direct transfers. A list of the participating institutes can be found on the EPC website. Real-time transfers are envisaged in all EU Member States , but some Member States have been reluctant to take part.

General

Real Time ( english real-time ) means in information technology that through the online always operative connection of different computer systems this the relevant data for detection within a predetermined period of time for other computers instantly by synchronizing them available. For the most part, fees are charged for real-time transfers . These are usually in the range of less than 1 euro / transfer, but are sometimes significantly higher. Comdirect Bank , Santander Consumer Bank , Deutsche Skatbank and, in the YOMO account model, the Sparkassen Esslingen-Nürtingen , Cologne Bonn and Kaiserslautern offer current accounts without a basic fee and with free real-time transfers . With direct banks active in mobile banking , such as bunq , real-time transfers are already standard.

history

Real-time gross settlement systems such as TARGET or TARGET2 have been used within the banking system since January 1999, but could not be used by private end customers. In order to be used by private end customers, the real-time transfer was created on the initiative of the European Retail Payments Board (ERPB) in December 2014, which in November 2015 commissioned the SEPA Council's successor committee to develop a real-time transfer system. In November 2017, the European Payments Committee (EPC) approved a payment system based on SEPA and the ISO standard 20022 under the name "Real-Time Transfer" for all EU member states . In the batch process used up to now , transfers were collected up to a certain time and then executed in batches.

Real-time transfer has been possible since November 21, 2017, EUR 15,000 / transfer is possible, from July 1, 2020 08:00 CET, payments of up to EUR 100,000 can be made via real-time transfer.

In under 3 seconds, 98% of real-time transfers were executed in early 2019.

Legal issues

The real-time transfer is based on the SEPA Instant Credit Transfer (SCT Inst ) agreement, the essential provisions of which the credit institutions have adopted by changing their general terms and conditions . Among other things, it stipulates that real-time transfers must be possible 24 hours a day all year round, including Sundays and public holidays . A hitherto usual deadline ( English cut-off ) is therefore excluded.

Real-time payments should be available regardless of the payment instrument ( transfer , direct debit or card payment ), the underlying clearing procedure (bilateral interbank clearing or via clearing houses ) and settlement (subsequent net settlement with collateral provided or real-time gross settlement system ).

The payment order by real-time transfer is not revocable in Germany in accordance with Section 675p Paragraph 1 BGB . However, since the SCT Inst provides for a recall option within ten banking days and the SCT Inst is a lex specialis in relation to the BGB, a recall is possible.

procedure

This payment is a function in online banking , after login the user to choose is payer. After entering the payment data including the payee, his bank details and the payment amount , the payer who is obliged to pay will authorize the payment process . This person identifies himself to his paying agent by means of a TAN with which the payment process is completed. This results immediately the load on the current account , the credit the payee at no more than ten seconds later. The recipient bank immediately informs the payer of this.

This also enables payments at the so-called point of sale . For example, when the customer confirms the real-time transfer via the app during the payment process at the store's checkout. According to the Payment Services Directive, the app can also be operated by a third party service provider.

See also

Web links

Individual evidence

  1. ↑ a b c [ https://www.t-online.de/finanzen/geldanlage/id_84082242/echtzeitueberweisung-wie-funktioniert-die-turbo-ueberweisung-.html t-online.de Instant Payments Real-time transfer: How does the turbo work - Transfer? 04/25/2019, 11:01 am | sm, t-online.de]
  2. ^ Sepa Instant Credit Transfer Register of Participants. In: EPC. EPC, June 20, 2020, accessed on August 14, 2020 (English, the page lists 1298 German financial institutions as of June 12 , 2020 ).
  3. ↑ Number of banks in Germany. Retrieved on August 14, 2020 (1720 credit institutions are specified for 2019).
  4. ↑ When can my bank be able to do "real time"? In: ntv. July 10, 2018, accessed October 9, 2018 .
  5. ↑ Sparkassen: Up to 9.99 euros for a real-time transfer? In: finanzmarktwelt.de. July 13, 2018, accessed January 28, 2020 .
  6. ↑ Michael Heim: Smartphone banking in a practical test. In: handelszeitung .ch. Retrieved January 21, 2019 .
  7. ↑ The money is getting really fast now welt.de. Retrieved July 10, 2018.
  8. ↑ Savings banks will soon be offering real-time transfers - what you need to know about the new service. In: Handelsblatt. July 8, 2018, accessed October 9, 2018 .
  9. ↑ Amendment to the maximum amount per SCT Inst transaction to 100,000 euros. In: European Payment Council. September 10, 2019, accessed October 23, 2019 .
  10. ^ TIPS Deutsche Bundesbank. Deutsche Bundesbank, accessed on January 18, 2019 .
  11. ↑ This is how the Sparkasse's real-time transfer works. In: Süddeutsche Zeitung. July 9, 2018, accessed October 9, 2018 .