STEP2-T
ACHPan-European automated clearing house for SEPA Credit Transfers and SEPA Direct Debits. Classified as a Systemically Important Payment System (SIPS) by the ECB. Processes SCT, SDD Core, and SDD B2B. Uses Continuous Gross Settlement (CGS) mechanism since 2020, settling in T2 central bank money.
ClearingPost does not assess whether STEP2-T is running normally.
Next
Dated items ClearingPost holds, each with its source and whether the date is confirmed
No supported upcoming items in ClearingPost's records for STEP2-T.
ClearingPost holds sourced upcoming items for 13 of 149 systems; an empty list is a statement about ClearingPost's records, not about a system's plans.
Changed
All recorded changes →Material, sourced changes ClearingPost recorded; corrections to its own record are labelled as such
- Data updateSTEP2-T average daily transactions decreased to ~69.4M (October 2026) · STEP2-T average daily value increased to ~€100.8B (October 2026)recorded 6 Nov 2026 · EBA CLEARING, STEP2 SCT / SDD Core / SDD B2B service statistics
- Data updateSTEP2-T daily transaction volume increased to 69,508,815 average daily transactions (September 2026) · STEP2-T daily transaction value increased to ~€97.3 billion average daily (September 2026)recorded 19 Oct 2026 · EBA Clearing, STEP2 SCT Statistics
- Data updateSTEP2-T average daily transactions increased to ~69.5M (September 2026) · STEP2-T average daily value increased to ~€97.3B (September 2026)recorded 10 Oct 2026 · EBA Clearing STEP2 service statistics
- Data updateSTEP2-T average daily transactions increased to ~68.9M (Aug 2026; SCT 24.1M + SDD Core 44.5M + SDD B2B ~0.38M) · STEP2-T average daily value decreased to ~€96.3B (Aug 2026; SCT €84B + SDD Core €8.3B + SDD B2B €4B)recorded 15 Sep 2026 · EBA Clearing STEP2 service statistics (August 2026)
- Data updateSTEP2-T average daily value decreased to ~€102B (Jul 2026; SCT €90B + SDD Core €8.1B + SDD B2B €3.9B) · STEP2-T average daily transactions decreased to ~68.3M (Jul 2026; SCT 24.7M + SDD Core 43.2M + SDD B2B ~0.39M)recorded 12 Aug 2026 · STEP2 SDD Core Statistics
Sources ClearingPost reads EBA Clearing · Authoritative (T1) · 11 of 16 fields carry a source and a recorded date · latest sourced entry recorded 6 Nov 2026 · evidence details ↓
Record · STEP2-T
Country
Eurozone (EU)
Currency
Euro (EUR)
Operator
EBA Clearing
Type
ACH
Operating Window
07:00–16:00 UTC · Mon–Fri
Year Established
2003
Tier?
Tier 1
ISO 20022?
Native
Region
Europe
Settlement Type
Gross (CGS)
Participants
237 direct; 4,800+ reachable PSPs
Avg Daily Transactions
~69.4M (October 2026)
Avg Daily Value
~€100.8B (October 2026)
Availability
TARGET business days
Notes
Daily figures on this record aggregate EBA Clearing's published average daily volumes and values for the STEP2 SCT, SDD Core and SDD B2B services in the same month; the STEP2 CC card clearing service is excluded. October 2026 is the latest month EBA Clearing has published for those services. STEP2 DKK, the Danish community's service for bulk payments in Danish kroner operated with Finans Danmark, remains scheduled to go live in November 2026. EBA Clearing has issued no press release since 17 June 2026.
Reference Sources
See all ACH systems →See all systems in Eurozone →ISO 20022 migration status →Payment rails by country →
Products on this rail
Operations · STEP2-T
Operational monitoring: not configured. ClearingPost does not monitor operational sources for this system and does not assess its current service condition.
Operations lists the systems ClearingPost monitors and the operational events it has recorded.
Intelligence for STEP2-T (17)
Coverage whose headline or summary names STEP2-T, or names its operator or country together with its system type. Each item quotes that evidence and says whether the source is the STEP2-T operator or external.
NewsSep 15, 2026Headline names “STEP2”
STEP2 SCT Averaged 24.1 Million Daily Payments in August
STEP2 SDD Core collections averaged 44,457,183 a day in the same month, EBA Clearing's statistics page shows.
Operator source · EBA Clearing STEP2 SCT Statistics
AnalysisJun 30, 2026Summary names “STEP2”
Bulgaria Retires BISERA6 and Blink as Euro Adoption Shifts Payment Traffic to TARGET and TIPS
Bulgaria's accession to the eurozone on January 1, 2026 retired its domestic RTGS, batch clearing, and instant payment systems. All payment traffic now settles through the Eurosystem's T2, STEP2, and TIPS platforms.
External source · European Payments Council
NewsJun 18, 2026Headline names “STEP2”
Danish Banking Community Selects EBA Clearing's STEP2 for Krone Batch Payments
STEP2 currently processes over 70 million euro-denominated SEPA transactions daily for more than 4,800 payment service providers across SEPA countries.
Operator source · EBA Clearing
AnalysisJun 15, 2026Headline names “STEP2”
STEP2 Credit Transfer Volumes Run Below 2025 Levels Through May While Direct Debit Processing Accelerates
The SCT volume decline at STEP2 coincides with accelerating instant credit transfer adoption across the euro area.
Operator source · EBA Clearing STEP2 SCT Statistics
NewsJun 10, 2026Summary names “STEP2”
EBA Clearing Releases FPAD White Paper Ahead of PSR Transaction Monitoring Mandates
STEP2's operator issued a formal compliance guide explaining how its fraud detection service maps to the transaction monitoring and information sharing requirements set out in the forthcoming Payment Services Regulation.
Operator source · EBA Clearing
AnalysisMay 28, 2026Headline names “STEP2”
STEP2 Direct Debit Services Grow Through Europe's Instant Payment Transition
ECB payment statistics for the first half of 2025 recorded 11.3 billion direct debit transactions in the euro area. Volume grew 2.3 percent year-on-year. Value increased 6.2 percent to €5.6 trillion.
Operator source · EBA Clearing
AnalysisMay 25, 2026Summary names “STEP2”
KIR 2025: Express Elixir Sustains 21 Percent Growth While Batch Volumes Plateau
Express Elixir's 21 percent growth in 2025 outpaced batch Elixir's 5 percent value gain, a divergence that mirrors STEP2 and Bankgirot volume declines across European batch clearing systems.
External source · KIR
AnalysisMay 18, 2026Summary names “STEP2”
SEPA Direct Debits Resist Instant Payment Substitution as Batch Credit Transfers Decline Across 2026
STEP2 batch credit transfer volumes have fallen year-on-year in every month of 2026. SEPA Direct Debit Core volumes grew 2.6 percent year-on-year in April 2026, demonstrating that mandate-based recurring payments face different competitive dynamics than one-off credit transfers.
Operator source · EBA Clearing
AnalysisMay 14, 2026Summary names “STEP2”
KIR April 2026 Data Shows Poland's Batch Payments Holding Steady as Instant Grows
KIR's April 2026 statistics show batch Elixir volumes declining just 1% year-on-year while Express Elixir instant payments grow 10%, a contrast with the 5.5% decline in SEPA-wide STEP2 credit transfer volumes driven by instant payment migration.
External source · KIR (Krajowa Izba Rozliczeniowa)
NewsMay 13, 2026Headline names “STEP2”
STEP2 Credit Transfer Volumes Fall 5.5 Percent in April as Instant Migration Accelerates
Average daily SCT value held at EUR 94 billion, marginally above EUR 93 billion a year earlier. STEP2 SDD Core averaged 47.3 million daily transactions, up 2.6% from 46.1 million in April 2025.
Operator source · EBA Clearing
Wider coverage that mentions STEP2-T (6)
These articles mention STEP2-T in their text but not in their headline or summary, so they are listed as context rather than as STEP2-T intelligence.
AnalysisApr 17, 2026Text mentions “STEP2”
European Batch Credit Transfers Contract as Instant Alternatives Accelerate
Instant payment alternatives continued absorbing batch credit transfer volume. Poland's Express Elixir processed 60 million transactions in March 2026, the first month exceeding that threshold.
External source · Bankgirot
AnalysisMar 26, 2026Text mentions “STEP2”
Western Balkans SEPA Accession Cuts Cross-Border Payment Costs Tenfold in First Five Months
World Bank data published 25 March 2026 shows business-to-business cross-border payment costs fell by up to 92 percent in Albania, Montenegro, and North Macedonia in the five months since SEPA accession in October 2025, with Montenegro recording a drop from EUR 73.40 to EUR 6.15 per transaction.
External source · World Bank
AnalysisMar 24, 2026Text mentions “STEP2”
Verification of Payee Reaches 2,700 PSPs Six Months After Europe's Mandatory Rollout
Six months after Europe's Verification of Payee mandate took effect, the scheme has scaled to 2,700 PSPs and 55 routing mechanisms. The EPC's March 2026 rulebook update addresses initial deployment challenges while EBA Clearing's fraud detection overlay reaches 55 participants across 14 countries. With non-eurozone EEA obligations arriving in July 2027, VoP's next expansion phase will test cross-border name matching at pan-European scale.
External source · European Payments Council
AnalysisMar 22, 2026Text mentions “STEP2”
PSD3 and PSR: What Changes for European Payments and When
The two-instrument framework splits payment regulation into a directly applicable regulation governing conduct and fraud prevention, and a directive covering licensing that merges the electronic money regime. Most provisions take effect 18 months after Official Journal publication, with payee verification following at 24 months.
External source · European Parliament Press Release
AnalysisMar 19, 2026Text mentions “STEP2”
RT1 Daily Settlement Values Triple Through 2025 as Instant Payments Shift Toward Corporate Use
EBA Clearing statistics reveal that RT1 average daily settlement values rose from 2.4 billion euros in January 2025 to 7 billion euros in December 2025, a 192 percent increase that far outpaced the 67 percent growth in transaction volumes over the same period. The October 2025 inflection point, when the IPR sending mandate and SCT Inst maximum amount increase took effect simultaneously, marks the moment instant payments began moving from a predominantly consumer channel to a corporate payment rail.
Operator source · EBA Clearing RT1 SCT Inst Statistics
GuideMar 11, 2026Text mentions “STEP2”
DNS, RTGS, and Hybrid Settlement: How Payment Systems Actually Clear and Settle
Understanding these models is essential for anyone working in payments - whether you are integrating with a new market's infrastructure, evaluating settlement risk, or simply trying to understand why a payment "cleared" but hasn't "settled.".
External source · BIS CPMI
Not listed here: 2 tagged articles that do not mention STEP2-T. All coverage is in Insights.