Banque Internationale à Luxembourg (BIL) has announced that it is now offering a new instant payment service.
Available 24/7, 365 days a year, instant payments allow customers to securely transfer funds from one account to another in as little as ten seconds. Initially only for transfers to/from accounts held with BIL, starting in September 2020, it will also be possible to make transfers to an account at another eligible SEPA (Single Euro Payment Area) bank.
As with a standard transfer, clients can choose between online or mobile banking via the BILnet app. When the payment instruction is entered, BILnet will automatically detect whether it is eligible for instant processing. If a client chooses the instant payment option, beneficiaries of the funds can use them immediately.
Didier Richter, Head of Daily Banking and Payments at BIL, commented: “With the launch of instant payments, we are offering our clients yet another practical, user-friendly service for their daily needs. This perfectly complements the work of our advisers, who help clients make their plans possible".
Further information on this new service as well as the terms and conditions are available on www.bil.com/instantpayment.
