Accounts and IBAN

SEPA and SEPA Instant

The difference between SEPA credit transfers and SEPA Instant, how long each takes, and the limits that apply to your Fundly IBAN account.

Your Fundly IBAN account, provided by [PARTNER], supports two ways of moving euros: the standard SEPA credit transfer and SEPA Instant. Both use the same IBAN. The difference is speed and, in some cases, limits.

What SEPA is

SEPA stands for Single Euro Payments Area. It is the set of rules that lets a euro transfer between two accounts in the SEPA area work the same way no matter which country the accounts are in.

The SEPA area covers 36 countries: the 27 EU member states plus Iceland, Liechtenstein, Norway, Switzerland, the United Kingdom, Andorra, Monaco, San Marino and Vatican City. An IBAN is between 15 and 34 characters long and always starts with a two-letter country code, for example DE, FR, LT or ES.

Note

SEPA only carries euros. If someone sends you a transfer in another currency, their institution converts it before it reaches SEPA, usually at their own rate.

SEPA credit transfer vs SEPA Instant

	SEPA credit transfer	SEPA Instant
Typical time	Same or next business day	About 10 seconds
Availability	Business days	24 hours a day, every day
Scheme maximum per transfer	No scheme cap	100,000 EUR
Partner cap at launch	Set by [PARTNER], shown in the app	Set by [PARTNER], may be lower than the scheme maximum
Can be reversed	Only by recall request	No

A standard SEPA credit transfer sent before the cut-off time on a business day usually arrives the same day, and otherwise the next business day. Transfers sent on a Friday evening or at the weekend arrive on Monday.

SEPA Instant settles in about 10 seconds, including at night and on public holidays. Since late 2025, institutions in the euro area are required to offer it, so most incoming transfers to your account will already be instant.

Which one will be used

You do not normally choose. When you send a transfer from Fundly, the app uses SEPA Instant if the receiving institution supports it and the amount is within the instant limit. If not, it falls back to a standard SEPA credit transfer and tells you before you confirm.

When someone sends money to you, their institution decides. Both types land in the same account balance.

Limits at launch

At launch, [PARTNER] sets the per-transfer and daily limits for your account. You can see your current limits under Account, then Limits. Verified users can ask for higher limits by review through the in-app support chat.

Warning

SEPA Instant transfers cannot be cancelled once sent. Check the IBAN and the name carefully. If you send money to the wrong account, contact support immediately, but recovery depends on the receiving institution.

Fees

At launch, incoming SEPA and SEPA Instant transfers are free on every plan. Outgoing SEPA transfers are free on every plan as well. See the Fee schedule for the full list.

Opening your IBAN account

Sending and receiving transfers

Fundly is a financial technology company, not a bank. Limits and fees described as “at launch” are proposals and may change.