GLOSSARY

Instant transfer

What is an instant transfer?

An instant transfer is a real-time payment method that allows funds to be sent and received within seconds – 24/7, including weekends and holidays. In banking, instant transfers are used for fast domestic or cross-border payments, ensuring immediate fund availability and improved cash flow.

They are powered by local payment rails such as SEPA Instant in Europe or Faster Payments in the UK, which connect banks and payment providers directly within national or regional systems. For cross-border transfers, fintech platforms often link multiple local rails to bypass the traditional SWIFT network – reducing delays, costs, and intermediaries.

Instant transfer: Good to know for SMEs

Instant transfers help improve cash flow, reduce waiting times, and strengthen trust with partners and clients. Unlike traditional bank payments, funds arrive within seconds – ideal for urgent supplier payments, just-in-time operations, or sending salaries on short notice. Faster money movement means faster business decisions.

Simplify payments with amnis – fast, global, and effortless

With amnis, you benefit from instant transactions, low-cost local transfers in over 20 currencies, and fast cross-border payments to more than 200 countries via the SWIFT network. Easily manage global payouts with our bulk payment feature and keep full control over your international transactions.

Plus: with instant peer-to-peer payments between amnis accounts, you can move money instantly across teams, partners, or subsidiaries – free of charge and without delays.

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ACH

ACH, or Automated Clearing House, is a local payment route in the United States that facilitates electronic money transfers between banks. It requires a local bank account or the use of local payment providers. ACH payments enable financial institutions to transfer funds electronically, bypassing traditional card networks like Visa and Mastercard. It’s commonly used for direct deposits, bill payments and other bank-to-bank transfers within the United States.

ACH payment

ACH payments are processed through the local ACH network in the United States, requiring a local bank account or the use of local payment providers. This method allows financial institutions to transfer funds electronically, bypassing traditional card networks like Visa and Mastercard.

Balance of payments

The balance of payments is a financial statement that summarizes all economic transactions between a country and the rest of the world over a specific period. It records trade in goods and services, cross-border investments, and financial transfers. A positive balance indicates that a country exports more than it imports, while a negative balance shows the opposite.

Bank transfer

A bank transfer refers to the electronic transfer of money from one bank account to another. Such transfers can take place either within the same bank or between different banks and are among the most commonly used methods worldwide for processing payments between individuals and companies.

BIC (Bank Identifier Code)

The Bank Identifier Code (BIC) is an internationally valid bank sort code defined by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Since the BIC code is issued by SWIFT, it is often also referred to as the SWIFT code.

Cashless payment

A cashless payment refers to any financial transaction where no physical cash is exchanged. Instead, the payment is processed using digital or electronic methods such as bank transfers, payment cards, mobile apps, or online platforms. It allows money to move from one account to another without the need for coins or banknotes.

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About amnis

amnis offers a comprehensive platform for international banking, offering a range of tools in one place. Transfer money abroad, exchange currencies 24/7 and collect international money transfer with your own IBAN accounts supporting 20+ currencies. Founded in 2014 in Zurich, amnis is a regulated payment institution under the supervision of the Banking Supervision Section in Liechtenstein (FMA) within the EEA.

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