RT1 System pricing
RT1 offers to its participants an SCT Inst Service in full compliance with the EPC SCT Inst Scheme. In addition, the optional Instructing Party service allows RT1 Participants to exchange instant payment transactions and R-messages with TIPS Participants via the RT1 interface without having to establish a different connection.
The pricing policy for RT1 is to recover all costs in relation to: (1) the processing services provided by critical service providers; (2) participating in and use of technical account and fund transfer services in TARGET2[1] and TIPS for RT1 System; and (3) operational administrative and depreciation costs of EBA CLEARING, as the business administrator of RT1, in relation to the service management and development of the RT1 System.
The pricing objectives for RT1 include optimisation of costs for the users of the service and RT1 Participants benefit from economies of scale as volumes continue to grow. EBA CLEARING does not seek profit or shareholder value maximisation.
Overview of fees
The fee schedule for RT1, including the terms and conditions of each fee, is available to all participants on the EBA CLEARING Customer Portal, and is made available to prospective participants upon qualified request. An overview of the annual and transaction-based fees is provided below.
1) Joining and annual fees
| Joining fees (in EUR) | |
| Participant | 30,000 |
| Configuration by a Participant of an Addressable PSP | 300 |
| Annual fees (in EUR) | |
| Participant | 30,000 |
| Addressable PSP (billed to relevant RT1 Participant) | 350 |
| TARGET2 and TIPS interface services fee | 12,000 |
2) Transaction fees
| Quarterly fees (in EUR) | |
| Minimum charging level, for the first 5,000 transactions per day | 2,500 |
| Transaction fee for >5,000 transactions (in EUR) | |
| Payable by sender | 0.002 |
| Payable by receiver | 0.002 |
TIPS Ancillary System Transaction fees charged by the Eurosystem per transaction settled in RT1 are incurred in addition for each transaction.
2) Network and changes
Administrative fees apply for changes in the RT1 routing tables or for configuration changes. Additionally, fees for the use of networks for sending payment messages is a matter of the bilateral contract of each user with the network provider.
Finally, different attractive pricing options are available for large volume users or participants that commit volumes for a period of three years, as for example the latter may opt for application of transaction fees based upon daily average volume of payments sent and received on an annual basis. The per-transaction-charges for payments sent and received will be determined based on the aggregate volume in accordance with a tiered structure. The same per-transaction-charges apply to any one participant in the same tier.
[1] To be renamed to “TARGET” in March 2023