TIPS for instant payments - SCT instant SEPA

TIPS is an extension of TARGET2 services and TARGET2 has more than 42.000 addressable BICs in the EEA. All PSPs which adhere to SCT Inst will most probably have a BIC which is within these 42.000. TIPS has the potential to ensure full panEuropean reachability if TARGET2 participants open TIPS accounts2 .