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Payments and rails

Supported currencies and the five payment rails, how to choose between them, why a SEPA Instant payment is not always instant, and why a SWIFT payment can arrive short.

Are SEPA Instant payments always instant?No. SEPA Instant is designed for rapid euro payments, but instant processing is available only when the sending institution supports the scheme, the…

Which currencies are supported?The core supported account currencies are EUR, GBP and USD. Each is associated with different payment rails: EUR with SEPA, SEPA Instant and SWIFT; GBP with Faster Payments; USD with ACH and SWIFT.

Which payment rail should my business use?Choose the rail by currency and destination. SEPA is generally appropriate for standard EUR transfers within the SEPA area, and SEPA Instant for eligible time-sensitive euro payments.

Which payment rails are available?Available payment rails may include SEPA and SEPA Instant for EUR, Faster Payments for GBP, ACH for USD, and SWIFT for international payments in supported currencies.

Why can a SWIFT payment arrive short?A SWIFT payment may pass through intermediary or correspondent institutions on its way to the beneficiary. Those institutions, and the beneficiary bank, may apply their own charges, which are outside 2PayApp's control.