SEPA Credit Transfers (SCT) allow you to send and receive money using euro-based accounts within the Single Euro Payments Area (SEPA) network. They are ideal for quick and easy one-time payments.
Types of SEPA Credit Transfers
You can do four types of SEPA Credit Transfers with your payment account.
The following table gives an overview of the different types of SEPA Credit Transfers, including definitions, key details, and durations:
| Transfer type | Explanation | Target day processing | Time to process |
|---|---|---|---|
| Regular SEPA Credit Transfers (SCT) | Standardized payment method for sending and receiving money in euros within SEPA. | ❌ NOT processed. | *24-48 business hours. |
| Instant SEPA Credit Transfers (SCT Inst) |
Real-time payments within the SEPA network. Available 24/7. |
✅ Processed. | Approximately 10 seconds. |
| Internal Credit Transfers | Transfers of funds between accounts with the same banking service provider. | ❌ NOT processed. | Usually within one business day. |
| Standing Orders |
Scheduled payments of a fixed amount in euros on the SEPA Network. Can be either instant or regular. |
❌ NOT processed. | Varies depending on whether it’s instant or regular. |
*The SEPA network takes 24-48 business hours to process a regular SCT. But, internal reviews by your banking service provider and the beneficiary’s bank may require additional time. Please read this article on delayed incoming transfers to understand SEPA Credit Transfer processing times.
SEPA Credit Transfer guides
You can initiate the transfer through your Web Banking app. Follow these guides to learn how to send SEPA Credit Transfers :
💡 If you've sent a transfer but don't see the money deducted yet, it's because it is still being reviewed and processed.
SEPA Credit Transfer returns and recalls
You might encounter outgoing credit transfer returns or recalls for various reasons. You can also request a credit transfer recall to get your money back if you've sent a transfer by mistake or if there's a dispute due to fraud or other reasons.
If you have a concern about a transaction in your account, read this article about credit transfer and card payment disputes.
If, after reviewing the linked resources, you still can't find the answer to your question regarding SEPA Credit Transfers, submit a request to Swan Support.