Instant credit transfers

Frequently asked questions (FAQ)

Instant credit transfers

Frequently asked questions (FAQ)

Find answers to frequently asked questions about instant credit transfers below.

What are instant credit transfers?

Instant credit transfers are carried out and processed immediately. If you are a payee, this means you receive your money in seconds and the amount in question appears on your account right away.

They can be made 24/7, including at night and weekends and on public and bank holidays.

Instant credit transfers are only available through banks participating in this scheme. Sixteen Belgian banks took part in its launch, making some 90% of current accounts in Belgium available for the service. A growing list of banks in Belgium will offer this service going forward.

Why have we introduced instant credit transfers?

You expect a real-time view of your incoming and outgoing payments, the balance of your accounts and your available working capital. So, the faster transfers are processed, the more accurate that view will be.

Does KBC offer instant credit transfers?

If you have an account with us in Belgium, you can use it to receive and send individual credit transfers. This is not available for batched payments for the time being.

Our Business Dashboard, Online for Business and Reach services all let you send instant credit transfers, as will our Business app from the first half of December 2019.

Are my credit transfers always instant?

We process your SEPA credit transfers instantly wherever possible. This means that the money will appear on the payee’s account right away. If the service isn’t available like when the receiving bank hasn’t yet joined the scheme, the money will still be credited to the payee’s account on the same day, provided the transfer is registered before 4 p.m.*

* A transfer order is only fully submitted to us once you’ve signed and sent it to us correctly, we’ve received it and the amount can be debited from the account (on any weekday apart from 1 January, Good Friday, Easter Monday, 1 May, and 25 and 26 December).

What are the benefits to me?

You can make and receive individual payments instantly 24/7/365, making the money available to you or the payee in seconds.

You don’t have to do anything to get the fastest service, which we give you as standard where possible.

Are instant credit transfers also possible outside Belgium?

You can receive and send instant transfers from and to Belgian and other European banks.

Can international KBC branch customers also transfer money instantly?

Instant credit transfers can only be made from and to Belgian accounts for the time being. We do, however, plan to extend the service to accounts held at our international branches. Stay tuned for more details and updates in this regard.

What do instant credit transfers cost?

We don’t charge anything extra for this service.

Is there a maximum transaction amount for instant credit transfers?

There is no general payment limit for instant credit transfers between banks in Belgium. Instant credit transfers between banks in the Single Euro Payments Area (SEPA) are limited to 15 000 euros per transaction, unless the banks concerned agree not to apply the limit.

Participating banks can set their own limits for their customers. Our limit for outgoing instant credit transfers is 1 000 000 euros. Higher amounts will still be credited to the payee’s account on the same day, provided the transfer is registered before 4 p.m.*

Our standard limit using our Business app still applies.

* A transfer order is only fully submitted to us once you’ve signed and sent it to us correctly, we’ve received it and the amount can be debited from the account (on any weekday apart from 1 January, Good Friday, Easter Monday, 1 May, and 25 and 26 December).

Will there be any CODA-related changes?

Instant credit transfers can be made on any calendar day. We now help you keep your bookkeeping updated by giving you daily reports at no extra charge.

That includes at weekends and on public and bank holidays, and applies to all report-related services offered, i.e.:

  • CODA
  • SWIFT MT94x
  • CAMT.05x
  • Isabel

Will there be any changes for cash pools?

Belgian cash pool accounts are zero-balanced every calendar day, including at weekends and on public and bank holidays.

Aren’t instant credit transfers already available through my accounting software?

We only process individual transfers as instant credit transfers. Batched payments are not processed as instant credit transfers, even though your accounting software may be telling you differently.

Can I still ask for urgent processing?

We’re unable to process all SEPA credit transfers instantly. You can still opt for standard processing or pay for priority processing.

That includes:

  • Payments from accounts held with other banks
  • Scheduled payments
  • Payments from accounts held with KBC group banks outside Belgium
  • Payments via Isabel, Swift for Corporates and Transfer
  • Batch entries and batched payments

What about batched payments?

Batched payments are not processed instantly, though we do process batched payments from Belgian KBC accounts faster:

  • What happens if I submit a batched payment order before 12 noon?*
    Your batched payments will appear on the payee’s account the same day without needing to ask for urgent processing.

  • What if, after 12 noon, I want batched payments to be made to the payee’s bank on the same day? (on weekdays**)
    Opt to pay for urgent processing, subject to applicable cut-off times for urgent batched payments.

* A transfer order is only fully submitted to us once you’ve signed and sent it to us correctly, we’ve received it and the amount can be debited from the account (on any weekday apart from 1 January, Good Friday, Easter Monday, 1 May, and 25 and 26 December).
** Every weekday apart from 1 January, Good Friday, Easter Monday, 1 May, and 25 and 26 December.

Are instant credit transfers available using the KBC Business app?

As of the first half of December 2019, you can also make instant credit transfers using our Business app (from version 00P 19.10.0 PROD).

Payment orders entered and signed using a previous version will not be processed instantly.

Learn more about instant credit transfers

Find out more about instant transfers on the website of the European Payments Council.

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