Following significant updates to its system, HSBC Bank Malta is now able to receive SEPA instant payments, meeting compliance requirements ahead of EU deadlines.

These payments allow euro transactions to be completed within just 10 seconds, regardless of the time or day, including weekends and public holidays. These enhancements ensure that payments received during weekends and public holidays will be immediately posted and value-dated, offering seamless and uninterrupted service to clients.

The regulation, which comes into effect in two stages – 8th January 2025 for receiving and 8th October 2025 for sending SEPA instant payments – also mandates equal charges for instant payments and standard SEPA transfers.

HSBC Bank Malta CEO Geoffrey Fichte highlighted the “significant step forward for a more efficient and equitable payment system across the EU.”

“We are proud to be leading this transition. By completing our system upgrades early and finalising internal testing, we can provide our customers with a reliable and modern banking experience that meets their evolving needs,” Mr Fichte on the milestone.