Ukrainian banks are actively implementing the instant transfer service, which allows sending funds in just seconds at any time of the day. This service, available 24/7, is gaining popularity among citizens and businesses due to its convenience and speed. The features of the service were shared by the head of the project office of 'Globus Bank' Natalia Rudukha.
What are the Limits and Duration of Instant Money Transfers?
Instant transfers became possible thanks to the updated NBU electronic payment system (SEP-4.1), launched at the end of 2024. It ensures that funds are credited to the recipient's account within 2–5 seconds. The service allows transfers up to 100 thousand UAH per transaction, while daily and monthly limits depend on the specific bank's rules. The cost of the service is determined by the bank's tariffs without additional fees.
How Does the Banking Service Work?
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Transfers are made using IBAN numbers both within one bank and between different banks.
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It is impossible to cancel a payment, so it is essential to carefully verify the details.
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Banks may review transactions, especially if they resemble 'broken up' large transactions.
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The purpose of the payment must be clear, for example, 'payment for contract No...' or 'loan repayment'.
Rudukha emphasized: 'Even instant payments can be halted if the bank suspects risks related to money laundering or financing terrorism'.
In such cases, transactions are checked to avoid violations of the Ukrainian law on combating the legalization of income.
Advantages of Instant Transfers
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Credit of funds in real time.
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Convenience: payments can be initiated through a mobile application, and details can be shared via QR codes or Deeplink.
How to Enable the Service?
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Check if your bank supports instant transfers (this is usually indicated in the app or internet banking).
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Find the 'Instant Payment' option under the 'Transfers' or 'Payments' sections.
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For individuals, the function is often activated automatically. For businesses, it needs to be enabled manually in the payment instructions.
Banks also advise contacting customer support for clarification.
Note that starting from October 5, the SEPA payment rules will change.