- MIP NEWS
TIPS fees remain unchanged after pricing review
3 December 2020
The price for settlement in TARGET Instant Payment Settlement (TIPS) has been kept at €0.002 per transaction following a review of transaction fees in TIPS by the Governing Council of the ECB.
This settlement price will also apply for instant payments settled on the technical accounts of automated clearing houses (ACHs) after the migration of these accounts to TIPS, scheduled for the end of 2021. Another fee will apply to ACHs for having their technical accounts in TIPS (as applicable today for ACHs with technical accounts in TARGET2). This fee will be proportional to the volume of instant payment transactions settled internally in the respective ACH and will be calculated as the number of transactions times €0.0005.
The new prices are applicable as of now until at least November 2023. For ACHs, the TIPS fees will become applicable when they move their settlement of instant payments from TARGET2 to TIPS.
Read more about the measures to ensure pan-European reachability here.