Instant Payments

Since Spuerkeess cannot guarantee an instant payment for all transfers, the "Urgent" option and the related fees will continue to be available.

* "Eurotransfert" transfers between Spuerkeess accounts are already processed as instant payments.

Instant payments are as secure as traditional electronic payments. It is nevertheless important that the customer does not share his log-in details with third parties.

As for Eurotransfert transfers, an instant payment is irrevocable. In the event of fraud or error, Spuerkeess will try to recover your money, but there is no certainty of success.

Yes, if you have the S-Net Mobile app. S-Net Mobile customers can enable the "Credit entries on current accounts" function in "Settings/PUSH notifications" and specify the threshold at which they will automatically be notified when instant payments and any other payments are received in their current account.

Yes, if the ordering bank sends you an instant payment, it will be credited to your Spuerkeess account within 10 seconds of initiation. You could reuse the funds immediately upon receipt.

The key advantage of instant payments is that the funds are available and accessible within 10 seconds. With a traditional outgoing transfer from Spuerkeess, it can take 1-2 business days for the funds to reach the beneficiary’s account. Instant payments are therefore useful when the beneficiary needs the funds to be credited to his account immediately.  

These types of situations might include:

• Home deliveries
• Markets, flea markets, etc.
• Last-minute bill payments
• Payment of bills that are too large to pay by credit card (car purchase, etc.)
• Peer-to-peer payments (bill splitting, peer-to-peer purchases, children’s pocket money, etc.)

Yes, no matter what payment method (instant payment or Eurotransfert) is used, transfers between Spuerkeess accounts are instant.

Spuerkeess does not charge private customers who use S-Net/S-Net Mobile, S-Payconiq or branch channels any additional fees compared to a traditional Eurotransfert²

² See "Main banking fees" at www.spuerkeess.lu/en/fees

You can pay any amount in euros using an instant payment provided it does not exceed the cap of EUR 100.000 currently set by the European Payments Council. No cap is applied to transfers between Spuerkeess accounts.

Of course, your payment limits in your S-Net/S-Net Mobile will continue to apply.

No, if the beneficiary's bank is part of the instant payment system, all transfers in euros to a SEPA country bank of up to EUR 100.000 will automatically be executed as an instant payment. If these criteria are not met, a traditional Eurotransfert will be initiated.

You just have to enter your transfer in S-Net/S-Net Mobile as you do now. The entry screens have not changed. S-Net/S-Net Mobile will automatically detect whether your transfer is eligible for processing as an instant payment. If not, a traditional Eurotransfert will be initiated.

The same logic applies to payments at a branch or in S-Payconiq.

All Spuerkeess customers with an S-Net agreement have the option of making instant payments. Instant payments can also be made at a branch (S-Bank and tellers) and in S-Payconiq.

Instant payment is a new electronic payment method. It is a transfer in euros executed in real time between two bank accounts held in a SEPA zone country¹.

It is processed immediately, 24/7, including at night, weekends, and on public and bank holidays.

The beneficiary of an instant payment is credited of the funds within 10 seconds if the beneficiary's bank accepts this payment method.

¹ SEPA (Single Euro Payments Area): EU countries plus Iceland, Liechtenstein, Norway, Monaco, Switzerland and San Marino