An instant transfer is a transfer that is processed in a few seconds, unlike a standard SEPA transfer which can take up to 2 business days to be received.
And most importantly, this type of transfer works every day, at any time, even on bank holidays.
👆 Good to know: One-time, scheduled and recurring transfers are set up as instant transfers by default.
For one-time transfers, you can also choose to uncheck this setting and make a standard transfer (received within 48 working hours) in the One Last Look step of the flow.
For scheduled and recurring transfers, if it is rejected (limit amount reached/ technical issue) it will automatically be processed as a standard transfer (up to 48 hours to reach the beneficiary's account).
To be instant, your transfer must take place within the SEPA zone (which differs from the European zone) and must not exceed 100,000 euros.
For example, if you make an instant transfer to a supplier on a Saturday, they will see the funds in their account within a few seconds.
At Qonto, sending and receiving instant transfers is free, within the number of transfers included in your plan.
How does it work?
Sending instant transfers is available for all plans. Account holders, Admins and Managers can send instant transfers.
The sending process remains the same as for a standard transfer, whether on your computer or on mobile.
If your beneficiary can receive instant transfers and the amount is below €100,000, a validation window appears when you confirm your transfer. The instant transfer option will be pre-selected by default. If you wish to send it as a standard transfer, simply deactivate this option.
If the transfer is not eligible, it should be able to be sent as a standard transfer.
Before confirming, make sure to check the details of your transfer. Sending is irreversible.
Once sent, a window will inform you a few seconds later that the transfer has been successfully received by your beneficiary.
☝ Good to know: In some cases, sending the transfer as "instant" will not be possible and you will need to send it as a standard transfer. 🙏🏻
👆 Good to know: Sending instant transfers does not apply to transfer requests.