SEPA instant payment

A SEPA instant payment (SEPA Instant Credit Transfer) is a euro bank transfer that usually reaches the recipient's account within a few seconds. Unlike an ordinary SEPA transfer, it does not depend on banking days: an instant payment works around the clock, including weekends and public holidays. For a casino withdrawal this means that once the casino has approved the payment, the money no longer has to wait in the bank's queue.

How a SEPA instant payment works

The rules of the instant payment scheme have been agreed by banks within the European Payments Council. The payer's bank sends the payment, the recipient's bank checks it and credits the account immediately, and the payer receives confirmation within seconds. If the recipient's bank cannot accept an instant payment, the payment is rejected or sent as an ordinary transfer.

In recent years the European Union has required banks offering euro payments to both receive and send instant payments, and has required that an instant payment cost no more than an ordinary transfer. Background is available on the European Central Bank's SEPA page. The larger Estonian banks offer instant payments, but check your own bank's price list for the exact terms and any limits.

How an instant payment helps a casino withdrawal

The speed of a withdrawal depends mainly on three things: how long the casino keeps the request pending, how quickly it processes it, and how long the money takes to move between banks. An instant payment only solves the last part, but that is exactly the part that causes most of the waiting with an ordinary transfer in the evening and at weekends.

• A withdrawal approved in the evening does not wait for the next banking day.
• A weekend withdrawal can reach your account the same day, provided the casino itself also processes at weekends.
• Many Trustly and Pay N Play solutions rely on instant payments, which is why they are associated with fast withdrawals.

The article weekend vs working day explains the difference between working days and weekends.

When an instant payment does not help

An instant payment does not speed up the casino's internal processing. If the account needs a KYC check, if you have to prove the source of funds or if the amount exceeds the withdrawal limit, you still wait for the casino's decision. The bank may also run an extra check on a larger or unusual incoming payment and send it as an ordinary transfer.

It also matters that both sides must support instant payments. If the casino or its payment provider sends the money as an ordinary transfer, your bank's instant payment support changes nothing. Likewise, a "fast withdrawal" advertised by a casino does not always mean an instant payment: sometimes it only refers to a short processing time. So check the casino's payment information page for the method and processing time it promises, and compare that with your own experience.

If you want to know how quickly a particular casino actually pays, make a small test withdrawal and note when the casino approved it and when the money reached your account. Instructions are in the article test withdrawal: how to measure speed yourself.

Frequently asked questions

How do I know whether the money came as an instant payment?

Many banks mark instant payments separately in the transaction history or show the exact time of receipt. If the money reached your account within minutes of the casino's approval, it was most likely an instant payment.

Is an instant payment safe?

Yes, it is an ordinary interbank payment subject to the same rules as other transfers. An instant payment usually cannot be recalled once sent, so double-check your IBAN before requesting a withdrawal.

Fast money movement also makes depositing again easy. Set yourself limits and see the responsible gambling page.