How long does it take for a single transaction to settle through Token?

The time it takes for a transaction to settle via Token varies depending on the payment rails used by the involved financial institutions. Here's a simplified breakdown:

  1. Faster Payments Scheme (FPS):
    FPS allows most UK bank account holders to make quick electronic transfers. When both the sender and receiver banks are direct participants in FPS, funds are usually available immediately. However, it may take up to two hours in certain cases, especially outside regular business hours or if a party is not a direct FPS participant.

  2. SEPA Credit Transfer Instant (SCT Inst):
    SCT Inst offers rapid payments within the SEPA zone, ensuring instant fund availability. Transactions typically complete within ten seconds, but may extend to 20 seconds in exceptional circumstances. Payments exceeding 100,000 euros are rejected unless agreed otherwise. SCT Inst operates 24/7/365, allowing for continuous access to instant transfers.
    Related: Why is my SEPA Instant transfer taking longer than expected?

  3. SEPA Credit Transfer (SCT):
    SCT facilitates electronic transfers between bank accounts across SEPA member countries. It operates seamlessly, ensuring next-day payments within SEPA. This means payments between accounts in different SEPA countries are usually processed within one working day, offering efficient and convenient transfers for individuals and businesses alike.

See also:

What are the common problems when making a payment and how do I resolve?


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