Instant bank transfers available to most from today

Rabobank mobile banking
Rabobank mobile bankingPhoto: Piter2121/DepositPhotos

Instant bank transfers is now available to customers of seven Dutch banks. With the introduction of Instant Payments, customers can transfer money at night, over the weekend and on public holidays and it will immediately show in the recipient's account, instead of the recipient having to wait for the next business day, the Dutch Payments Association said to AD.

The Instant Payments option is now available to customers of ING, ABN Amro, Rabobank, SNS, ASN Bank, RegioBank, and Knab. The new payment option is automatically added to the participating banks' mobile- and online banking systems.

An instant transfer takes only five seconds, according to the payments association.  There is no limit to the amount that can be transferred.