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PTSB - SEPA instant Credit not available until End of January

Yggr of Asgard

Despite today being the deadline for EU banks to be able to accept SEPA instant credit transfers (outbounds deadline is October) PTSB is not able to comply and spins it as:

Incoming SEPA Instant Credit Transfers for PTSB payment accounts – Available from the end of January

If only we had a regulator of sorts that could fine them for being late, especially as they reported to the European Payments council, they were ready as of 04 December 2024.

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coylemj

I transferred money from the Revolut app on my phone to my AIB account last night and it arrived instantly. Got the notification ('you have received a payment') from AIB straight away.

So I sent money to a BoI account a minute later and (surprise, surprise), it hasn't arrived yet!

Yggr of Asgard

https://www.boards.ie/discussion/comment/123044236#Comment_123044236

AIB seems to have implemented it (and in the process even fixed the issue with paying the AIB credit card from Revolut).

PTSB and BOI seem to be not able to do it at the moment despite the deadline.

Yggr of Asgard

Availalbe now:

Incoming SEPA Instant Credit Transfers now live for PTSB's payment accounts

markpb

I just transferred money from my Revolut account to my PTSB account. The Revolut app says I missed the cutoff and the money will be sent tomorrow instead. Is there a wrong way to Instant Credit?

Genghis

Quite incredible that none of our banks in Ireland are ready. I think AIB are ready to receive, not send, PTSB ready for neither, not fully sure on BOI.

Certainly in the last week I have moved money from PTSB to both AIB and BOI, and they each took 3 days.

Would anyone know if this is just bank account to bank account, i.e. let's say you are paying a BOI credit card from a PTSB account. I assume once SEPA Instant is live, BOI will receive money instantly instantly, but do they need to be able to pay it off your balance instantly too (doubt it?).

Yggr of Asgard

https://www.boards.ie/discussion/comment/123106750#Comment_123106750

Looks like Revolut has either not updated the configuration for PTSB and is still doing it as normal SEPA or PTSB is not telling us the truth when it comes to their readiness.

davetherave

I moved money from my Paypal account to my ptsb account yesterday lunchtime and it was instant, where as before it would be done overnight. Paypal were still saying 1-2 business days.

I don't tend to have much in my Revolut unless I'm going over to the UK or that, the last time I transferred money out of it to a bank account was 2019 but I just gave it a go moving something into the TSB account. It says arriving today, but still showing as pending on Revolut. Certainly not 10 seconds anyway. :/

Yggr of Asgard

https://www.boards.ie/discussion/comment/123107608#Comment_123107608

Then its Revolut who have not updated their system. Thanks for sharing.

davetherave

Revolut to PTSB:

Hit the go button, and went "Verified by Revolut" at 0944

Changed to "Leaving for recipient’s bank. No longer cancellable" at around 1030ish.

Changed to "Sent to recipients bank" at 1049.

Still no sign of it in TSB account now, but I suppose if it arrives today it'd still be an improvement

[Deleted User]

https://www.boards.ie/discussion/comment/123106788#Comment_123106788

Three days sounds excessive.

I regularly transfer funds from BOI to AIB - always arrives the next working day.

Genghis

https://www.boards.ie/discussion/comment/123109656#Comment_123109656

The PTSB one was Friday evening, arrived Monday.

So, yes maybe it was next working day.

Point is that the same thing eill be done in 10 seconds, "working" day or not.

I used inverted commas as I wonder why fully automated processes still take weekends off.

[Deleted User]

https://www.boards.ie/discussion/comment/123110773#Comment_123110773

Banks are still tied into processing days i.e. Monday to Friday. Even if you make a transfer from AIB to AIB at weekend (which shows up instantly at the receiver's end), both parties' statements (not transaction listings on the app) will ultimately show the transaction as taking place on the Monday. Same for debit card transactions. Think it's to do with daily processing of batches or something like that.

AngryLips

Does anyone get payment received notifications on the PTSB app or is it only the AIB app that has that functionality?

barkerj

I had tried to send a transfer from Revolut to PTSB on Saturday, and it was delayed until Monday as had happened to other commenters here. Tried another transfer just now, so there could be no "outside of business hours" type arguments, and it arrived within a couple of seconds. Which is the way it should always have been!

I still don't get why the deadline in January was for incoming instant payments only - for a payment to be instant, it needs both ends to work instantly.

Yggr of Asgard

Looks like revolut has updated their database and payments to PTSB are now SEPA instant (worked for me), however payment to the Credit Card Account which was also mentioned as SEPA instant by PTSB are still not at least for revolut.

Also PTSB is actualy not doing their SEPA, it's outsourced to CITIBANK so I assume that has a role to play here.

Yggr of Asgard

https://www.boards.ie/discussion/comment/123111216#Comment_123111216

PTSB app has only limited notifications, mainly those Visa Card spending approvals.

Otherwise, you need to log onto the web version and define your alerts which will come via text and even those are limited and not available for any transactions.

A lodgement of €1,500 or more is made to your account (e.g. wages)
A withdrawal of €1,000 or more is made from your account
Your available balance falls below a certain amount (minimum €100)

Absolute stone age!

daheff

https://www.boards.ie/discussion/comment/123106788#Comment_123106788

Have you queried this with any of the three banks as to why a SEPA next day payment did not arrive the next day (and i'm assuming you didn't make the payment on a friday)?

Genghis

https://www.boards.ie/discussion/comment/123181341#Comment_123181341

No, to be honest I didn't. The point I was making was they are not SEPA Instant.

One of them was a Friday or maybe even a Saturday, I can't remember. Again though I argue the day is a moot point too because if it was SEPA Instant the day wouldn't matter.

_Kaiser_

Transferred from my revolut to my PTSB tonight about an hour ago and it was instant. I was amazed.

Is that now the same for transfers in/out generally now?

Delta2113

https://www.boards.ie/discussion/comment/123195850#Comment_123195850

From 05 October 2025, PTSB will be introducing outgoing SCT Inst payments from your accounts. You will not be able to send SCT Inst payments before this date.

bennyx_o

https://www.boards.ie/discussion/comment/123111498#Comment_123111498

Worth mentioning too that these text alerts aren't instant unless somethings changed in the last year or so

markpb

https://www.boards.ie/discussion/comment/123204237#Comment_123204237

They're really slow. I have one setup for my wage lodgement and I think it takes about 10 hours to arrive. Next to useless.

A350-900

I had a SEPA transfer from PTSB to N26 take almost 20 hours. Slow is not the word.

bennyx_o

https://www.boards.ie/discussion/comment/123217016#Comment_123217016

Outgoing SEPA instant payments won't be in until October (assuming PTSB are on time with them this time)