OP wants to be involved in promoting a transforming payment landscape that is becoming faster and more mobile. Now we provide the opportunity to transfer money to other banks during the same day with an ordinary credit transfer. Before that, our private customers could use the real-time Siirto payment on OP-mobile and Pivo. The current improvement will apply to all SEPA credit transfers in euros from Finnish accounts of private and corporate customers, excluding salary and recurring payments.
Payments through electronic channels – 2 pm as a rule of thumb
The renewal applies to SEPA credit transfers performed in our customer channels, such as op.fi for corporate and private customers, OP-mobile, OP Business mobile, File transfer, Cash Management Service and Web Services for corporate customers. Payment orders accepted by 2 pm on a banking day will transfer within a few hours to other banks during the same day.
However, salary and recurring payments, payments made at bank branches and credit transfers performed after 2 pm will follow the same time delay as before - on the following banking day.
The faster credit transfers will be available to our private and corporate customers with no measures and without extra costs. The renewal also applies to SEPA credit transfers to other European countries.
Benefits from the renewal
Our corporate customers will enjoy more efficient liquidity management, as money is transferred faster to accounts with different banks and cost-savings can be achieved because there will be less need, for example, for urgent payments.
When it comes to our private customers, faster credit transfers will make it easier, for example, for families or spouses who have their accounts with different banks and they want larger amounts of money to transfer between the accounts during the same day. The Siirto payment where money is transferred on a real time basis is convenient for smaller amounts.