TARGET Instant Payment Settlement

What is TARGET Instant Payment Settlement (TIPS)?

TARGET Instant Payment Settlement (TIPS) is a new market infrastructure service launched by the ECB in November 2018. It enables payment service providers to offer fund transfers to their customers in real time and around the clock, every day of the year. This means that thanks to TIPS, individuals and firms can transfer money between each other within seconds, irrespective of the opening hours of their local bank.

TIPS was developed as an extension of TARGET2 and settles payments in central bank money. TIPS currently only settles payment transfers in euro. However, in case of demand other currencies could be supported as well.

Read more about TIPS on the European Central Bank's website.


Queries in relation to TIPS may be sent to the Central Bank at [email protected].