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Coop Pank to raise instant payment limit to 100,000 euros from 1 July 2020

Coop Pank has enabled its clients to make euro payments moving in real time, otherwise known as instant payments, since April 2019. These payments have made the lives of both the private and business clients of the bank much easier. To date, instant payments have been limited to transfers of up to 15,000 euros, but Coop Pank will be raising this limit to 100,000 euros next month.

Since the pan-European payment system which processes instant payments will support the forwarding of larger amounts as of 1 July 2020, Coop Pank will be enabling its clients to make payments of up to 100,000 euros immediately. In connection with this, we have amended our terms and conditions for performing payment transactions by introducing the increased instant payment limit. You can find the new terms and conditions here.

Instant payments are payments in euros wherein the banks of both the remitter and the beneficiary have joined the pan-European instant payment system. All instant payments are free for Coop Pank’s settlement package clients, who can instigate such payments in any of the bank’s channels. Wherever possible, the bank always executes payments as instant payments.