Payments News

Systems

Amendment to the Maximum Amount Per SCT Inst Transaction to 100,000 Euros

“On 10 September 2019, the  Scheme Management Board (SMB) – the body responsible for the administration and evolution of the  Single Euro Payments Area (  ) payment schemes, decided to amend the maximum amount per  Instant Credit Transfer (  Inst) transaction to 100,000 euros, effective as of 1 July 2020. For the time being, the maximum amount an Originator can transfer via a single  Inst transaction is set at 15,000 euros until the beginning of July 2020.”