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7/10/2020

Instant payments: not a second to lose!

Available 24/7, instant payments allow you to securely transfer funds from one account to another in as little as 10 seconds. Banque Internationale à Luxembourg (BIL) is now offering this new service.

Want to transfer money to a friend for a holiday rental? Need to send money to a loved one in an emergency? Now you can with a new payment service that BIL is offering. Available 24/7, 365 days a year, instant payments allow you to transfer euros in 10 seconds. Initially only for transfers from and to accounts held with BIL, starting in September 2020, it will also be possible to make transfers to an account at another eligible SEPA (Single Euro Payment Area) bank.

How does it work? Nothing could be easier. As with a standard transfer, clients can choose between online or mobile banking via the BILnet app. When the payment instruction is entered, BILnet will automatically detect whether it is eligible for instant processing. If a client chooses the instant payment option, beneficiaries of the funds can use them immediately. Further information as well as the terms and conditions are available on www.bil.com/instantpayment.

With the launch of instant payments, we are offering our clients yet another practical, user-friendly service for their daily needs. This perfectly complements the work of our advisers, who help clients make their plans possible,” says Didier Richter, Head of Daily Banking and Payments at BIL.

The bank’s philosophy is to be both more digital and more human, which is again reflected in this new service. The main role of its Relationship Managers is to offer advice and help clients achieve their goals. At the same time, the bank is constantly innovating and improving its BILnet online banking platform with new features so that clients can enjoy practical, simple and secure services 24/7.