A payment received as a SEPA instant credit transfer can be identified by the text "SEPA instant credit transfer" in the electronic bank statement’s and transaction statement query’s message or description field. A payment received as a normal SEPA credit transfer can be identified by the text “SEPA credit transfer” in the corresponding field. A SEPA instant credit transfer arriving with a reference is shown on the transaction list, in the same manner as a bank transfer with a reference received as a SEPA credit transfer.

In account reporting, a payment sent as a SEPA instant credit transfer is not distinguished from payments sent as SEPA credit transfers.

No changes will be made to bank statement and reference data generation practices and times in this regard. The processing times for payloads and reports in the Web Services channel for businesses are the same as for current SEPA credit transfers: every weekday from 7.00 to 18.00. The processing cycle for payloads will be thirty minutes, as now. However, after successful processing of a SEPA instant credit transfer, payments will be in the payees’ accounts within seconds. Individual urgent payments sent under the real-time urgent payment data type will be processed immediately at all hours, every day of the year.

The cost of incoming and outgoing SEPA instant credit transfers is the same as that of normal SEPA credit transfers with a reference or message.

Payment volumes are expected to shift from normal SEPA credit transfers towards SEPA instant credit transfers with increasing speed. The inter-bank POPS express transfer in Finland is likely to be replaced by SEPA instant credit transfer, when Finnish banks have introduced SEPA instant credit transfers via their own channels.

Approved payment orders made with the relevant content by 14.00 on a banking day are transferred to other banks across the SEPA area on the same day, within a few hours at most. Normal SEPA credit transfers delivered in C2B payloads are also transferred, in seconds, as SEPA instant transfers to other banks until 18.00 on the same business day.

Salary and recurring payments are sent to the payee's bank on the following business day.

The customer can send express transfers (POPS) (versions pain.001.001.02 and pain.001.001.03) in C2B (SEPA) payloads, among other payment types, both within the same day or with a certain execution date. Retrieval of the corresponding responses (pain.002.001.02 and pain.002.001.03) is also possible.

Urgent payments with URGP codes will primarily be channelled as SEPA instant credit transfers for payee banks, whenever possible. If a payment does not succeed and is sent to a financial institution in Finland, it will be directed via the POPS interbank express transfer system if the payload is sent to the bank by 15.00 on the same banking day. Local Instrument payments with INST codes are sent only as SEPA instant credit transfers.

This functionality is particularly useful for corporate and institutional customers that need backup procedures for the payment of urgent salaries. It also enables synchronisation of the company’s C2B instant credit transfers with other C2B payments.

The Customer Guidelines on C2B payment include the sending of instant credit transfers with other SEPA payloads.

An individual real-time instant credit transfer sent with the file type "pain.001.001.02 TP4 PS01" or "pain.001.001.03 TP4 PS01" via the WS channel is always processed as a SEPA instant credit transfer in real time 24/7/365. An instant response message is sent for such a payment.

The EU’s Payment Services Directive (PSD2) states that, when a customer makes a cross-border payment to an EEA country, they must pay their own bank’s charges (charge bearer code: SHA). The customer cannot pay all charges (OUR). 

The sharing of costs (SHA) is legally mandatory if the payee's bank is located in an EEA country and the euro or another EU member state’s currency is used for payment. The related legislation is designed to protect the customer’s rights and safety when handling money matters.

The sharing of costs described above applies to outgoing international payments via all OP channels.

A payment order is regarded as issued when the payer's bank has received it via a bank branch or the electronic service channel in a manner approved by the bank. Payment orders cannot be issued as customer messages through the electronic service channel.

When a payment arrives at OP Financial Group during our service hours, we will usually process it on the same day. When a payment arrives after the service hours, we process the payment on the following business day. Business day is a day on which the payer’s or the payee’s bank is open for business and thus able to execute a payment order for its part.

The start date of an order accepted on a non-business day is the following business day at the latest, if the payment is going to an financial institution outside OP Financial Group or is not being made in euros.

On Maundy Thursday and New Year's Eve or other special service hours announced separately, we apply the exceptional cut-off times.

See here for payment processing (Cut off) times – Service description

See here service hours and exceptional payment schedules

Various checks are made on C2B payloads in the bank. This forms the basis of C2B responses sent via the Web Services channel used by the corporate customer.

We recommend that the customer retrieve and check these responses to see whether the sent C2B payload has been approved or rejected.

Response messages for processed payments (in camt format) are generated at 12.00, 15.00, 18.00 and 21.30 for successful payments.

Rejected payments, or payments not made due to insufficient funds, are reported using a Report on payment (3rd phase pain report) generated for retrieval from the Web Services channel for businesses, or the data transfer channel in OP’s digital services for corporate customers, around 30 minutes after processing of the payload. During credit processing for payments marked as SEPA instant credit transfers, a payment status report (‘pain’ report) on the extra payment is generated after creation of the payment report on debit processing. The rejection reason code and description in the payment status report explain why the SEPA instant credit transfer could not be sent to the payee.

Payment cancellation requests can be sent using an electronic C2B cancellation request. Cancellation requests can only be sent for payments still pending the requested execution date.  

An electronic C2B cancellation request can be used to cancel payment batches or single payments consisting of C2B SEPA credit transfers, recurring payments, or international payments sent by a corporate customer to the bank via the Web Services channel and still pending the requested execution date.

The schema for the cancellation request sent to the bank is camt.055.001.01. The schema for the bank's response message retrieved by the customer is camt.029.001.03.