A SEPA Instant Credit Transfer (sometimes referred to as SCT Inst) is a pan-European instant payment scheme that allows euro payments to be processed between payers and payees within 10 seconds on a 24/7/365 day basis.
For PTSB customers, you can receive two types of SCT payments to your payment accounts:
You can now receive SCT Inst payments into your accounts. In order for you to receive an SCT Inst payment your payer (the person making the payment to you) must send the payment through their Bank/payment service provider as an SCT Inst payment.
From 05 October 2025, PTSB will be introducing outgoing SCT Inst payments from your accounts. You will not be able to send SCT Inst payments before this date.
SCT Inst payments into certain account types (“payment accounts”) will be available where the 10 seconds 24/7/365 rule will be applied.
These accounts are Current Accounts, Demand Deposit Accounts and Credit Card Accounts.
For any other account type, SCT Inst payments can be processed but will not be processed on a 10 second basis 24/7/365 days instead it will be processed, depending on when it was received subject to cut-offs, on a same day/next working day basis.
Yes, €100,000 is the maximum amount per transaction under SCT Inst Regulations.
For Current Accounts, Demand Deposit Accounts and Credit Card Accounts you will be able to receive payments on non-business days. SCT Inst payments can be received 24/7 365 days a year. For any other account types, SCT Inst payments will be processed on business days only.
You can identify an incoming SCT Inst payment by its reference. An SCT Inst payment will have a reference starting with “ICT”
The structure of the narrative is ICT [Payers name] DD/MM.
Example: John sends Mary, a PTSB customer, an SCT Inst payment on the 11 February. This payment would be seen on Mary’s PTSB statement as ICT John 11/02.
If you have a question about a payment you have received into your account, please contact our telephone banking service 0818 50 24 24 or International +353 1 212 4101 (9am to 5pm Monday to Friday (excluding bank holidays) and 10am to 2pm Saturday and Sunday).
Alternatively, connect with our dedicated Support Agents directly through the PTSB App, via Support Chat.
Where an SCT Inst payment has been received over the weekend or on a bank holiday, the statement date will appear as the next working day but the payment narrative will reflect the date that the payment was received. For example, an SCT Inst payment received on Saturday 15 February, will be grouped with any other transactions on Monday under 17 February. The transaction narrative will reflect the correct date of the “15/02” - Funds will be available and included in interest calculations from the date they were received and posted to your account.
Example: John sends Mary, a PTSB customer, an SCT Inst payment on Saturday 15 February. This payment would be viewed on Mary’s PTSB statement with a date of 17 February but the narrative will have the correct date of receipt “ICT John 15/02”.
For PTSB payment accounts (Current Accounts, Demand Deposit Account and Credit Card Accounts) interest calculations will start to be applied from when the payment is processed to your account, including over the weekend.
For other accounts, interest for SCT Inst payments will apply in line with existing interest calculations.
