What happens after a B2B payment is initiated?

After a B2B payment is initiated, we run some automated and manual checks in the background, as follows:

Scenario 1

If the third party is known, the payment goes through automated screening procedures to ensure it is compliant.

Scenario 2

If the payment involves a new third party, extra checks are done by BVNK to approve or reject the third party.

 

Time to process

The payment is then processed in seconds or up to a couple of days. Check out more details on: What are the settlement times for SEPA Credit, SEPA Instant, CHAPS and Faster Payments?

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