Revolut enables instant payments in Euro for business account holders
The bank will accelerate money transfers from Revolut business accounts to other bank accounts in Europe.
This is applicable to the banks in Europe that support instant transfers.
In its blog post, Revolut said that customers can log into their accounts online and initiate transfers with a single click.
Account holders need to choose or create a beneficiary, enter the amount, confirm the payment details, and hit ‘send funds’ to complete the payment process.
This service will run on the instant payments infrastructure called the Single European Payments Area (SEPA), which was introduced back in 2017.
While receiving the money in Euro currency, customers will need their International Bank Account Number (IBAN).