EuroSelect Payment

A EuroSelect Payment is an alternative to a standard Euro Payment. We’ll explain how a EuroSelect Payment works and when you may need to use one.

Processing through Instant Payments

A euro transfer within the Netherlands or to a SEPA country in Europe is usually processed instantly through a Euro Payment. When creating a transfer in the Rabo App or online banking, you'll see how your payment will be processed.

When to use a EuroSelect Payment (formerly Urgent Transfer)

A EuroSelect Payment is an alternative to a euro transfer within the Netherlands or to a SEPA country in Europe. It is only needed in two situations:

The recipient’s bank does not support instant payment processing, it is after 3:00 PM on a business day, and the payment must be credited on the same day.
The recipient’s bank is within SEPA but does not participate in Euro Payments. In online banking and the Rabo App, we will indicate that the payment will be processed as a EuroSelect Payment.

For transfers within the Netherlands, a EuroSelect Payment submitted by phone before 4:00 PM on a business day will be credited to the recipient’s account within 1.5 hours. For payments outside the Netherlands, the recipient’s bank determines when the payment is credited to the recipient’s account. Rabobank has no influence over this.

How to make a EuroSelect Payment

Please contact us by phone. You cannot create a EuroSelect Payment in the Rabo App or through online banking.

Call us to make a EuroSelect Payment

Costs

Automatically via online banking or the Rabo App: €5

By phone or at a Rabobank branch office: €15

Canceling

It is not possible to cancel a EuroSelect Payment. If a EuroSelect Payment was made without good reason, please contact the recipient and ask them to transfer the funds back to you. The fee for the EuroSelect Payment will still apply.

When not to use a EuroSelect Payment

Do not use a EuroSelect Payment in the following situations:

The recipient’s bank and account support a Euro Payment with instant processing. A Euro Payment with instant processing is faster and less expensive than a EuroSelect Payment.

The recipient banks with Rabobank, or the transfer is to one of your own accounts.

The payment is in foreign currency or outside the SEPA area. Your payment will be processed as a World Payment.

The payment instruction is submitted after 4:00 PM.

The payment instruction is submitted during the weekend or on public holidays. We do not process EuroSelect Payments on those days.