User:Strayorigin/sepa instant-draft

SEPA Instant

SEPA Instant (SCT Inst) is an evolution of the standard SEPA scheme that allows for euro transactions to be settled in seconds, 24/7/365. It is increasingly popular on Bisq for faster trade settlement.

At a Glance

Currency	Region	Signing Required	Initial Buy Limit	Max Trade Limit	Trade Duration
EUR	🇪🇺 Europe (EU + select countries)	Yes (to lift limits)	.002 BTC	0.0624 BTC	Max 1 day (Usually < 1 minute)

Account Setup

To use SEPA Instant on Bisq, you must configure your account settings.

1. Go to Account > National Currency Accounts.
2. Select Add New Account and choose SEPA Instant.
3. Account Name: Enter a label for your internal use.
4. IBAN / BIC: Enter your International Bank Account Number and Bank Identifier Code.
5. Name: Enter the account owner's name exactly as it appears on your bank statement.

Check Capability: Ensure your bank supports SEPA Instant for both sending and receiving. Some banks only support one direction. If your bank cannot receive instantly, trades may fail to settle within the 1-day limit.

Trading Rules

While the general trading process follows the standard Bisq Trading Guide, SEPA Instant has specific requirements:

Payment Reference

• Buyers: When sending payment, leave the reference field BLANK.
  • If a reference is mandatory, use your own name.
  • NEVER write "Bitcoin," "Bisq," or the Trade ID.
• Sellers: Expect the incoming payment to have a blank reference or the buyer's name.

Confirmation

• Buyers: Mark payment as "Started" immediately after the funds leave your account.
• Sellers: Verify funds have actually arrived before clicking "Payment Received."

Risks, Fees & Limits

The "Fallback" Risk

Occasionally, a payment sent as "SEPA Instant" may fail to process instantly and revert to a standard SEPA transfer (taking 1-2 days).

• If this happens: The trade duration (1 day) may expire before funds arrive.
• Mediation Rule: If a dispute opens due to delay, mediators will check if both banks are technically capable of SEPA Instant. If the buyer can prove they sent the payment within 24 hours, no penalty is usually applied for the bank's delay.

Limits & Fees

• Bisq Limits: .002 BTC (Unsigned) / 0.0624 BTC (Signed).
• Bank Limits: Many banks cap Instant transfers lower than standard transfers (e.g., €15,000 or €100,000). Check your specific bank's limit.
• Fees: Usually free, though some banks charge a premium for "Instant" speed.

Dispute Resolution

If a trade goes to mediation:

• Buyers must provide a PDF bank statement showing the timestamp of the transfer.
• Sellers must provide proof of non-receipt or late receipt.
• Mediators may verify bank compatibility using the European Payments Council Register.

External Resources

• SEPA Instant - European Payments Council
• List of Participating Banks