Documents and Faqs in Pages: Payments FAQs

Your bank sends a secure message via SWIFT to the recipient’s bank to transfer funds in the chosen currency. Typically, this takes 1 to 5 business days, depending on the banks and currencies involved and the fees incurred will depend on charges applied by the sending, intermediary, and receiving banks. You can also track SWIFT payments using the reference number provided by your bank

A SWIFT payment is an international bank transfer. It allows you to send or receive money to and from banks worldwide using the secure SWIFT network. Use SWIFT when you want to send money outside the SEPA zone or in a currency other than euros.

As a MeDirect customer, you can pay for goods and services using either a physical or virtual MeDirect debit card. You can also make payments through SEPA, SEPA Instant, and SWIFT, as well as set up Direct Debits.

To make a transfer to another bank, you’ll first need to set up your beneficiary details. You can do this by selecting ‘Transfer’ on the MeDirect Mobile App or ‘Move Money’ in Internet Banking, then choosing ‘Add a new beneficiary.’

Once created, your beneficiary will appear in your ‘Latest Beneficiaries’ list, where you can easily view, edit, or delete their details at any time.

SEPA Instant Payments are Euro transfers between participating banks from accounts within the EU. Funds are made available in the beneficiary account within seconds (typically under 10 seconds) and are processed 24/7, including weekends and public holidays.

Yes, you can transfer money instantly to accounts held at banks that support SEPA Instant Payments. Instant Payments allow funds to be credited to the beneficiary account within seconds, 24 hours a day, seven days a week, including weekends and public holidays.

You can make an instant transfer in Internet Banking using ‘Move Money’ or on the Mobile App using ‘Transfer’. If the beneficiary bank participates in the Instant Payments scheme, your payment will be processed immediately. If the bank does not support Instant Payments or if we encounter any system issues, you will be notified and you can opt to have the transfer sent as a standard SEPA transfer.

The Verification of Payee service is a security feature designed to help you confirm that you’re sending money to the correct person or business. When you make an instant payment, MeDirect checks whether the name of the recipient matches the IBAN you entered.

If the details don’t fully match, you’ll receive a notification or warning before the payment is sent. This gives you the chance to review or cancel the transaction, helping to protect you from mistakes or potential fraud.

Yes. You can manage your Instant Payment preferences directly from your MeDirect Mobile App or Internet Banking.

Go to ‘Settings’ → ‘Payment Limits’ → ‘Instant Payment Preferences’ to enable or disable Instant Payments, or to adjust your maximum transfer limits for additional control and security.

Yes, you can schedule a one-time transfer for a specific future date. Log in to Internet Banking, select ‘Move Money’, then ‘Add a new beneficiary’ and enter the payment details. Before confirming, click ‘Schedule’ and select your desired transfer date.

You can view, edit, or cancel any upcoming payments under ‘Scheduled Payments’, helping you plan ahead with confidence.

Adding a brief description can help distinguish between transactions when viewing the transaction list in an account’s details page.