Credit transfers

A credit transfer is a payment transaction in which a payment service provider (e.g. a bank), based on the payer’s instruction, debits money from the payer’s account and credits it to the payee’s account. This includes credit transfers between different account holders as well as transfers between accounts of the same account holder.

Credit transfers are classified according to the method of initiation:

• Initiated electronically – credit transfers initiated digitally, without the use of a paper form, broken down into:
  • SEPA credit transfers,
  • SEPA instant credit transfers,
  • on-us credit transfers (transfers between accounts held with the same payment service provider),
  • other (e.g. transfers in a currency other than EUR).

• Initiated other than electronically – credit transfers initiated by telephone, post, using a paper form, or otherwise requiring manual processing.

Fraudulent payment transactions are also collected in the statistics. These may involve unauthorised transactions or situations where a fraudster manipulates the payer into initiating the payment themselves. Fraud may arise, for example, as a result of the loss, theft, or unauthorised acquisition of sensitive data.

The number and value of transactions are reported cumulatively for the calendar half-year.