Instant Payment & Beneficiary Verification
What is an instant payment?
An instant payment is a euro transfer that is credited immediately to the beneficiary’s account. Unlike standard transfers (which can take 1 to 2 business days), it is processed in real time.
Benefits for you :
• Speed: transfer within a few seconds.
• Availability: service operates 24/7, including weekends and public holidays.
• Security: same guarantees as a standard SEPA transfer.
• Convenience: ideal for urgent payments or sending money to someone quickly.
For any questions, our Daily Banking team remains at your disposal via the contact form – E‑Banking section. Contact us - Societe Generale Luxembourg
An instant transfer is a free euro transfer credited to the beneficiary’s account within a few seconds. A daily limit of EUR 150,000 applies to all transfers made from your account—internal or external, instant or not.
This limit is fixed and cannot be modified.
In addition, you may set a specific limit for instant transfers. This limit is set by default at EUR 50,000 and can be adjusted between EUR 0 and EUR 150,000.
You may choose to apply this threshold per transaction or per day, but the two modes cannot be combined.
Informations :
• Instant payments do not apply to internal transfers between your own accounts.
• SEPA euro transfers made from an account not denominated in EUR are not supported by this feature.
• Any rejected instant transfer must be re‑entered.
• Transfer-related notifications can be configured and personalised in the Notifications tab.
• If your account is also linked to Multiline, changes to instant payment limits will also apply — I do not understand (Note: your French sentence was incomplete; meaning likely “changes will also apply in Multiline”).
• Can I cancel an instant payment? No, once validated, it is irreversible.
• Is it secure? Yes, instant payments comply with SEPA standards and banking security protocols.
FAQ: Beneficiary Verification
Beneficiary Verification (VoP) is a service that checks whether the beneficiary name you entered matches the name registered by the beneficiary’s bank before executing a transfer.
VoP helps reduce risks related to:
• errors when entering beneficiary details,
• fraud attempts such as identity theft or fake bank account details.
It provides an additional security layer before the payment is executed.
VoP applies to SEPA euro transfers, including:
• standard SEPA transfers,
• instant payments.
VoP does not apply to:
• internal transfers between your own accounts,
• payments in currencies other than euro,
• transfers outside the SEPA zone.
Verification occurs before executing the transfer, after entering:
• the beneficiary name,
• and the IBAN.
The result appears immediately, allowing you to decide how to proceed.
• Match: the beneficiary name corresponds to the information held by their bank.
• Partial match: the name is close but not identical (abbreviations, legal form, minor spelling differences).
• No match: the name entered does not correspond to the beneficiary associated with the IBAN.
• Verification unavailable: the check could not be performed (e.g., technical reasons).
Yes.
VoP is an informational service. You remain responsible for deciding whether to:
• proceed with the transfer,
• correct the beneficiary details,
• or cancel the transaction.
In case of a mismatch, increased caution is strongly recommended.
No.
VoP reduces risks but does not eliminate fraud possibilities. You should always:
• carefully verify beneficiary details,
• be cautious with urgent requests or sudden changes to bank details.
VoP is part of European regulatory initiatives aimed at strengthening payment security.
Its implementation depends on:
• the beneficiary’s bank,
• the type of transfer,
• applicable regulatory deadlines.
Yes.
Beneficiary name verification is carried out in compliance with personal data protection regulations, including GDPR. Only data strictly required for the verification are exchanged.
If unsure, you should:
• refrain from executing the transfer,
• contact the beneficiary directly to confirm their details,
• or seek assistance from your Daily Banking team.