Have you ever needed to send money urgently, whether to pay a contractor, help out a family member, or settle a bill, only to realise the payment would not go through until the next working day? It is a frustrating situation that many of us have faced. That is exactly where SEPA Instant Payments come in.

With APS Bank, you can send Euro payments within the SEPA zone that arrive within 10 seconds, no matter the time or day, even on weekends and public holidays. Whether you are making a personal transfer or handling business expenses, it is now faster, and more convenient.

In this article, we will explain what SEPA Instant Payments are, how they work, and the key benefits they offer. You will also learn about Verification of Payee (VoP), a built-in security feature that adds extra protection by confirming the name of the person you are sending money to.

What Are SEPA Instant Payments?

SEPA Instant Payments are euro transfers that are processed within 10 seconds, regardless of the day and time. These payments can be made between accounts in countries that form part of the Single Euro Payments Area (SEPA), which includes all EU member states plus other European countries.

Unlike Standard SEPA Payments, which may take up to one working day or more to process, Instant SEPA Payments are completed in real time, 24 hours a day, 7 days a week, 365 days a year.

Key Benefits of SEPA Instant Payments

SEPA Instant Payments are not just fast, they offer a range of benefits that make everyday banking smoother and more secure. Here is what you can expect when sending a SEPA Instant Payment with APS Bank:

  • Speed: payments are processed instantly, allowing recipients to access the funds within 10 seconds, ideal for urgent payments or time-sensitive transactions.
  • Convenience: you can send SEPA Instant Payments through myAPS internet and mobile banking, or by visiting any APS Bank branch.

What Is Verification of Payee (VoP)?

When making a SEPA Payment, it is essential to know your money is going to the right person. That is where Verification of Payee (VoP) comes in.

VoP offers an added layer of protection, at no extra charge, to our customers. It helps ensure that you are sending money to the right person by checking whether the beneficiary’s name matches the IBAN entered. This gives you the chance to double-check and correct any mistakes. .

Here is how VoP adds value to your payment experience:

  • Prevents costly mistakes: a simple typo in a name or IBAN could mean funds are sent to the wrong person. VoP helps catch these errors before they happen.
  • Helps protect against scams: if someone tries to trick you into paying a fraudulent account, the system will flag a mismatch in the name and IBAN, prompting you to investigate further.
  • Boosts your confidence: you can move forward with your payment knowing the details have been cross-checked for accuracy.
  • Works automatically and discreetly: the check takes place in real time, behind the scenes, without adding any steps to your payment process.
  • Free for all APS customers: there is no extra charge for this service, VoP is included on both SEPA instant and standard payments.

When making a SEPA payment, whether instant or standard, you will receive one of the following results:

  • Full Match: the name matches exactly. You can proceed confidently.
  • Close Match: the name is similar but not identical (e.g. Joe Borg vs. Joey Borg). The system will show the registered name, allowing you to double-check before sending.
  • No Match: the names do not match. You will receive a clear warning so you can review the details.
  • Verification Not Possible: the name could not be validated due to a temporary technical issue.

This feature significantly reduces the risk of fraud or misdirected payments, offering an extra level of reassurance with every transfer.

How to Send a SEPA Instant Payment

Sending an SEPA Instant Payment is simple. Here is how:

Using myAPS internet and mobile banking

  1. Log in to myAPS
  2. Select Payments from the top left menu
  3. Choose Transfer to a non-APS account
  4. Complete the required information
  5. Check the Verification of Payee notification
  6. The SEPA Instant Payment option will be automatically selected – if you do not want to use it, switch it off.
  7. Select Confirm
  8. Re-check details and select Yes

App

  • Enter app PIN / FaceID / FingerPrint and tap Confirm

Desktop

  • Scan the Cronto image on your desktop with your app / physical token
  • Enter the secure code
  • Select Submit followed by OK

At a Branch

You can also visit any APS Bank branch, and our team will assist you in making a SEPA Instant Payment.

Where Can I Send Instant Payments?

SEPA Instant Payments can be sent to any participating financial institution within the SEPA zone, which includes all EU member states plus other European countries.

If the recipient’s bank also supports SEPA Instant Payments, the transaction will be processed immediately.

The launch of SEPA Instant Payments and VoP at APS Bank is part of our ongoing commitment to offering faster, safer, and more secure digital banking services. As financial technology evolves across Europe, we’re ensuring our customers have access to the same high standards, backed by the reliability you expect from APS.

Getting Started with APS Bank

With SEPA Instant Payments and Verification of Payee, we give you the tools to move your money smarter, faster, and more securely. Say goodbye to delays and uncertainty, enjoy the convenience of real-time Euro transfers, 24/7.

Whether you are using myAPS or visiting a branch, it is easy to experience the benefits of instant, secure, and reliable payments with APS Bank.

Approved and issued by APS Bank plc, APS Centre, Tower Street, B’Kara BKR 4012. APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance intermediary under the Insurance Distribution Act 2018. The Bank is a participant in the Depositor Compensation Scheme established under the laws of Malta. Terms and conditions apply and are available on apsbank.com.mt/terms-and-conditions.