Currently only available to clients contracting with The Currency Cloud Limited and excludes clients on our Outsourced KYC model.
What are 24/7 EUR collections?
24/7 EUR collections is our service for receiving EUR payments at any time, including weekends and bank holidays. For eligible clients, payments are received into designated NL IBANs. Where the sending bank supports SEPA Instant, funds typically arrive within seconds. If not, payments are received via standard SEPA Credit Transfer (SCT) instead.
Who is eligible for 24/7 EUR collections?
24/7 EUR collections are currently available to most clients contracting with The Currency Cloud Limited, excluding those on our Sponsored Outsourced KYC model. If you would like to confirm whether you are eligible, please contact your Account Manager or your usual Currencycloud contact route.
What’s the difference between SEPA Instant and SEPA Credit Transfer (SCT)?
SEPA Instant processes payments within seconds, any time of day. SCT typically processes within hours and only during business hours.
Is SEPA Instant secure?
Yes. SEPA Instant follows the same compliance and security standards as other SEPA schemes.
Do I need to do anything to enable 24/7 EUR collections?
To request 24/7 EUR collections, please contact your Account Manager or your usual Currencycloud support route. We will arrange setup of your NL IBAN for you and once that’s complete, the account details will be available via our Find Funding Accounts API endpoint and Currencycloud Direct.
Can I receive SEPA Instant payments from any bank?
No. Only banks that participate in the SEPA Instant scheme can send SEPA Instant payments. If the sender’s bank does not support the scheme, the payment will be sent via standard SCT instead.
What happens if the sender’s bank doesn’t support SEPA Instant?
If the sender’s bank does not support SEPA Instant, the payment will be received via standard SEPA Credit Transfer (SCT) instead.
Will I get a new IBAN?
Yes. You’ll be provided with a new NL-prefixed IBAN for 24/7 EUR collections. You can use our Find Funding Accounts API endpoint to retrieve the account details.
Your existing GB-prefixed IBAN will remain active alongside the new NL IBAN. Your GB IBAN cannot receive SEPA Instant transactions and will continue to receive SEPA Credit Transfers payments only.
Can my NL-prefixed IBAN receive both SEPA Instant and standard SCT payments?
Yes. Your NL-prefixed IBAN can receive both SEPA Instant payments and standard SEPA Credit Transfer (SCT) payments.
In the Get Funding Transactions API endpoint, SEPA Instant transactions appear as SEPA_Inst, while standard SEPA Credit Transfer transactions appear as SEPA.
Will my existing GB-prefixed IBAN be able to receive 24/7 EUR collections?
No, only the NL-prefixed IBANs will be able to receive 24/7 EUR collections.
GB-prefixed IBANs are limited to receiving SCT transactions
What is the maximum limit for collections?
There is no practical cap on collection amounts within our platform. Our system supports transactions of up to €999,999,999.99 per collection (one cent less than one billion euros).
Are there any other limits I should be aware of?
Yes. Although the official SEPA Instant payment limit of €100,000 was removed on 9 October 2025, some sending banks may still enforce this limit until their systems are updated.
What happens if a collection needs to be returned and is over €100,000?
If a collection over €100,000 needs to be returned, it will be processed via SCT. This is not instant and will follow standard bank processing and cut-off times.
What happens if a collection needs to be returned and is under €100,000?
If a collection under €100,000 needs to be returned, it will be processed via SEPA Instant Credit Transfer, provided both banks support SEPA Instant. This means the return will typically be completed within seconds, 24 hours a day, including weekends and bank holidays.
Will I need to make technical changes to use this service?
No additional technical integration work is required to receive 24/7 EUR collections. However, you may need to update your internal processes to ensure your new NL IBAN details are displayed and shared appropriately.
Will the sending IBAN match the receiving IBAN?
No. The sending IBAN will not match the receiving IBAN.
Will my existing IBANs/accounts change?
No. Your existing accounts will remain active. SEPA Instant will add new NL IBANs without disrupting existing processes.
What will my account structure look like?
When your new 24/7 EUR collections account is set up, the details will look like this:
Account Holder Name: Example Company Ltd – GB House Account
IBAN: NL00 EXAM 0000 0000 00
BIC: EXAMNL2A
Bank Name: Example Bank N.V.
Bank Address: Example Street 1, 10145 Tallinn
Bank Country: EE