Transfond, the entity in charge with the automated clearing of interbank commercial payments in Romania, will launch its instant payments service for local banks on December 10, local Wall-street.ro reported.

This solution will allow banks that implement it to offer their clients the possibility to transfer money between accounts at different banks in just seconds.

Banca Transilvania and CEC Bank have already tested this solution and are ready to implement it while BCR will start in March 2019, according to Tranfond project manager Bogdan Nastase.

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