ayment security is taken into account as there should be an IBAN check on payments, warning consumers if there is a mismatch between the name of the beneficiary and the IBAN number
CoP is required as part of the process
3 Matching Annotations
- Dec 2022
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www.smartinsights.net www.smartinsights.net
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many financial institutions are charging their customer higher fees for SCT Inst than for SCT. As a result, at the end of 2021, only 11% of SCT were SCT Inst, according to the European Commission
Changed by the new rules
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SCT Inst transaction at EUR 15,000
Still not very high at €15k
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