If possible, we always make payments as instant payments, which arrive in the payee’s account in seconds. If this is not possible for technical reasons, we make the payment as an ordinary European or SEPA payment. Settlements between the banks of the SEPA region take place several times a day. A payment made by a Coop Pank client will get to another bank on the same day if it is made before 15:30. The estimated times of receipts are:
Amount has been taken from the client’s account |
Money is received by payee in another Estonian bank* |
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Before 8:30 |
After 11:00 |
Between 8:30 and 11:30 |
After 13.30 |
Between 11:30 and 14:30 |
After 16.00 |
Between 14:30 and 15:30 |
After 17.30 |
After 15.30 |
After 8:45 on the next working day |
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* The time when payments are received in other banks depends on the internal processes of each bank.
A SEPA payment initiated in the weekend will reach the payee on Monday after 8:45.
Coop Pank has instant payment capability, which means that we can receive the instant payments sent to us as instant payments as well. If the other bank did not send a payment to us as an instant payment, the receipt of the amount in the payee as a SEPA payment make take a little longer.
Receipt times:
Period when payment made in other bank* |
Money received by Coop Pank client |
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Before 7.00 |
After 9.30 |
7.00-9.30 |
After 11.30 |
9.30-12.00 |
After 15.30 |
12.00-14.30 |
After 16.30 |
14.30-16.30 |
After 18.30 |
After 16.30 |
After 9:30 on the next working day |
|
* The times are different in respect of other banks, the times here are estimates. The exact information is obtained from the bank that initiated the payment.
There may be some exceptional cases where a payment may take longer to arrive. This may happen as a result of the bank’s control systems, technical situations, etc.