06.03.2012
Bank Millennium first in instant transfers
Bank Millennium was the first bank on the Polish market to sign an agreement with the National Clearing House (KIR) on processing of transfers in the SRPN (instant payments clearing system). KIR are planning to launch of the service in April this year.
The SRPN system (instant payments clearing system) will permit making transfers up to PLN 100,000 online 24 hours a day, 7 days a week. Service availability as well as maximum transaction amounts will be defined on a per-bank basis. KIR are to launch the system already in April.
We want to launch the system for corporate Customers as soon as possible, once KIR have launched it. In the first phase we plan to have a pilot campaign for selected Customers, next we will be offering the product to all. Instant transfers will be available in the Millenet electronic banking system, on a 7/24 basis - says Maciej Walęczak, Director of the Products Development Sub-unit in the Transactional Banking Department.
Instant transfers will be available only in PLN. Bank Millennium Customers will be able to make transfers from accounts kept in PLN and in all other currencies, however incoming transfers will be accepted only to accounts kept in PLN
Introduction of the SRPN system involves a significant increase of transaction speed. Today domestic transfers done via ELIXIR or SORBNET systems, reach the transfer beneficiary even up to several hours after being made. Meanwhile instant transfers will reach the beneficiary's account within seconds.