BBVA expands instant payments to inbound cross-border transfers from outside the eurozone
BBVA has launched a new service that enables financial institutions outside Europe to send payments to Spain in just seconds, at any time of day and on any day of the year. The service significantly enhances efficiency for sending banks while allowing recipients to access funds instantly, helping corporates optimize treasury management and offering retail customers a seamless experience.
Leveraging Iberpay’s new One‑Leg Out Instant Credit Transfer (OCT Inst) rail, BBVA now processes inbound payment orders to Spain in real time under its BBVA Directa service.
The service operates 24/7/365 with no cut‑off times. Payments are executed within seconds and can be tracked end-to-end through SWIFT’s GPI Tracker. Issuing banks retain full flexibility, deciding which payments to route via the instant rail, enabling them to optimize both liquidity and costs.
Importantly, no additional technical developments are required: BBVA maps incoming orders to the OCT Inst standard and settles them immediately. Beneficiaries receive funds instantly, strengthening companies’ cash and reconciliation processes and improving the overall customer experience.
Spain and BBVA at the forefront of instant-payment innovation
Cross-border instant payments are emerging as a major growth driver for global transaction banking. Volumes are expected to accelerate, driven by new One-Leg Out schemes and increasing demand from multinationals for real-time liquidity.
Thanks to Iberpay’s payments infrastructure, the Spanish banking community has led Europe in adopting the OCT Inst scheme. Within this framework, BBVA has been an early mover, acting as an intermediary for international institutional clients. This achievement underlines BBVA’s commitment to its global transaction banking business and its role as a trusted partner for retail, corporate, SME, and financial-institution clients.
Guided by a global vision and a client-centric approach, BBVA continues to evolve toward industry‑specific service models, powered by artificial intelligence, advanced data capabilities, and agile tools—anticipating client needs and delivering tailored solutions.