Bank of Valletta (BOV) has launched its SEPA Incoming Instant Payments service, making transferred funds available in the recipient’s account in under 10 seconds, any time of day or year.
BOV Chief Operations Officer Ernest Agius stated that the introduction of the service is a landmark moment for the bank.
Unlike traditional SEPA transfers, which can take up to three days, this service is more convenient and reliable for both individuals and businesses.
“Businesses stand to benefit from improved cash flow and efficiency, while individuals enjoy the peace of mind that comes with real-time updates and instant access to funds,” the bank said in a statement.
This new service is the result of a year-long collaboration among multiple teams within the bank.
On the other hand, Tonia Naudi, Lead Payments and Multichannel, added that “this project highlights the dedication and collaboration of the teams, who have worked tirelessly to bring it to life. SEPA Instant Payments are a game-changer, and we are proud to offer this service, setting a new standard for payment solutions in Malta.”
Further details about SEPA Instant Payments can be found on the website or through the customer service centre on 356 2131 2020.
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