ING credit transfers, direct debits and reporting

Instant payments

From 2019 onwards, ING will introduce instant payments. As a pan-European bank, ING ambitions to offer instant payments in all countries in which it has a local presence. On this page you will find the answers to frequently asked questions, with information on what instant payments are, what the advantages are, and when you can initiate or receive them.


What are instant payments?

Instant payments (SEPA Credit Transfer Instant) is a single payment which is directly debited from the originating account and credited to the beneficiary account within seconds, 24/7. This means that the money is immediately available to the beneficiary. For instant payments there is no cut-off time, only a day-time shift at 00:00. Instant payments are newly introduced within the SEPA area, across 34 countries. 

Instant Payments scheme nw 2C


Why instant payments?

We live in a world of instant news and instant messages. Instant payments are a logical consequence of our 24/7 economy. Instant payments will be added to the real time payment world and gives all the clients the possibility to make payments 24/7, 365 days a year.

There will be no difference between ‘working days’ and ‘non-working days’ when it comes to the processing of instant payments. *

* Please note that Belgium will not support 365 days a year yet, and still makes a difference in processing between working days and non-working days.


To which banks can I initiate an instant payment?

Instant payments are not mandatory for banks to participate. As a result, you will encounter that you will not be able to do an instant payment to all beneficiaries. Transactions to those beneficiaries that have their account at a bank that is not reachable for instant payments will be processed as a normal SEPA credit transfer (during opening hours). Click here for an overview of the banks that are reachable for instant payments.


What are the advantages of instant payments?

Instant payments can bring you the following advantages:


  Advantage By (example)
1 Improvement of cash flow and optimisation of cash management Monetising on an investment opportunity in the weekend
2 Improved credit risk management   
3 Receive funds outside business hours, in the evening, nights, weekends and holidays Receipt of e-commerce transactions, invoices, retail transactions
4 Immediate and more transparent delivery and receipt of time-critical payments  Notary or tax payment; pay-off insurance claims
5 Improved supply chain Direct delivery of goods based upon receipt of funds; direct salary payment after working day
6 Opportunities for innovations, like new products or services Automatic debiting client account for purchases
7 Improved control and oversight on financial cash management  Centralisation of treasury activities (to remote) central location


What is the impact of instant payments on your business?

The fact that you will receive instant payments in real time at possibly every moment of the day will have impact on your business. In general, we highlight the following changes:


Payments and treasury systems

Accounts will be debited and credited 365 days a year.* This might affect the way you are handling your cash management.

Liquidity forecasting and reconciliation will be impacted as your balance will shift during ‘non-working days’. For example, the last day of the month or year can be on a Sunday and payments can be received during that day.
Interest calculation Interest calculation will be applicable as of the day of debiting or crediting of the account: book day = value date. ING will book on all calendar dates, meaning that interest is applicable on all days.**

ING will provide you the possibility to acquire your reporting on all calendar days.** Your ERP system needs to be able to cope with reporting on ‘non-working days’ to enable you to process reporting files for each day of the week or three files in the correct order on Monday morning. As such, it is advised to contact your ERP supplier.

As the end of the day has shifted to 0:00 in the evening, your end of day statement will be delivered after day switch. The intraday statements (MT.942 and CAMT.052) will eventually be sent (near) real-time.**

In your statement, the incoming and outgoing instant payments will be reported separately (i.e. separate ING reporting code 00112 and ISO Family Code IRCT/RRCT). In your CAMT.05X report a timestamp indicating the time of initiation (in milliseconds) will be added to the report.**

Click here for more information on your reporting.

Cash balancing Your domestic cash balancing structure will run on every calendar date.**

* Please note that Belgium will not support processing on ‘non-working days’ yet.
** In the first roll-out of instant payments in Belgium no booking will take place on weekends and holidays. The end of day will not shift either. As a result, your interest and reporting set up will stay as is.


Interaction with your clients could also be affected by Instant Payments, depending on the choices you make, such as having operational client support 24/7, changes in your supply chain management, or options for direct billing.


When will I be able to receive or initiate instant payments?

Because it is optional to support instant payments, banks in Europe are gradually adopting instant payments in EUR as of November 2017. As a pan-European bank, ING ambitions to offer instant payments in all countries in which it has a local presence. A roll-out is planned or delivered for the following countries:



ING’s retail clients are able to receive instant payments as of November 2017.

Within Spain, instant payments are processed within 10 seconds, with a maximum amount of EUR 15,000.


As of January 2019, ING will gradually be able to initiate and receive instant payments (private individuals through Mobile & Home Bank; business clients through Business Bank and Telelink Online). ING’s wholesale banking clients will gradually be able to receive instant payments as of January 2019.

Within Belgium, instant payments will be processed within a few seconds and there is no maximum amount. The transaction will be processed 24/7/365 (transaction date = value date). The actual book date and reporting will (for now) remain on target days.  

The Netherlands

As a first step towards Instant Payments in the Netherlands, we will start by booking and reporting 365 days a year for payments in euro received by ING in our systems. This will apply to all ING customers with a Dutch euro current account. It is expected that this will take place during the last months of this year. Please click here for more information (in Dutch).

As of January 2019, a pilot for instant payments will start across the larger banks within the Netherlands. During the pilot phase, ING’s wholesale banking clients could already receive instant payments. Within the Netherlands, instant payments will be processed within 5 seconds and there is no maximum amount.

ING’s retail clients will be able to initiate and receive instant payments per May 2019. Click here for more information (in Dutch). ING’s wholesale banking clients will be able to receive instant payments as of May 2019. Initiation of instant payments will be offered to wholesale banking clients later in 2019.


ING’s wholesale banking clients will be able to initiate and receive instant payments in HUF as of July 2019.

Within Hungary, instant payments will be processed within 10 seconds, with a maximum amount of HUF 10m.