Cert. No.
CY-NTF-002
Flag State
CY
Issued
2026-05-26
Rev.
Α
02
Entry 02 of 08 · Banking
RegisteredSMSEmailPush

SEPA Instant payment confirmations for Cypriot banks: Bank of Cyprus, Hellenic, Eurobank CY

From 2026, EU Regulation 2024/886 forces every SEPA provider to support inbound Instant transfers 24/7 in under 10 seconds. In Cyprus, Bank of Cyprus, Hellenic Bank and Eurobank Cyprus are already online; smaller providers (Astrobank, Alpha Bank Cyprus, Cyprus Cooperative) are rolling out. 4notify lets you confirm transfer success to customers within seconds, with counterparty identity and amount.

Context

The old „your order has been submitted" message no longer suffices — customers expect real-time confirmation like in mobile banking apps. Those who don't provide it lose users to neobanks and Revolut.

Legal framework
Καν. (ΕΕ) 2024/886 — SEPA Instant

Mandatory support for instant transfers within 10s, at the same cost as standard credit transfers.

Ν. 81(Ι)/2009 — PSD2 Κύπρου, άρθρο 88

Immediate customer notification for every payment on a durable medium.

Κεντρική Τράπεζα Κύπρου — Οδηγία 2023/8

Mandatory IBAN-name check (VoP — Verification of Payee) for all SEPA transfers.

Voyage
01

Webhook from the core banking system

Core banking sends a payment event to 4notify at most 1s after instant clearing completes. The payload contains sender_iban, receiver_iban, amount, currency, sepa_id, status.

02

Template recipe book

Six ready-made templates: incoming, outgoing, rejected_insufficient_funds, rejected_vop_mismatch, pending_recall, recall_completed. Each bilingual (el/en) with safe-escape placeholders.

03

Dual channel (SMS + push)

Push first for app users; SMS fallback in <5s if not acknowledged. Email is sent only for amounts >€2,000 as an additional record.

04

IBAN obfuscation in the message

The SMS shows only the last 4 digits of the counterparty IBAN; the full IBAN is available in the app after authentication.

Code
json
{
  "event": "sepa.instant.completed",
  "template": "sepa_incoming",
  "sepa_id": "CY-BOC-20260526-A4F1",
  "amount": 1250.00,
  "currency": "EUR",
  "counterparty": {
    "name_masked": "Geor*** Pana***",
    "iban_last4": "9821"
  },
  "channels": ["push", "sms"],
  "recipient": {
    "client_id": "BOC-CY-204918",
    "phone": "+35799876543"
  },
  "compliance": {
    "psd2_durable_medium": true,
    "vop_status": "match"
  }
}
Sample message
SMS

Bank of Cyprus: Received €1,250.00 from Geor*** Pana*** (IBAN ***9821). Balance: €4,872.15. Details in app.

Pre-departure checks
  • Connect core banking webhook to 4notify endpoint
  • Test P99 latency end-to-end <5s (market requirement)
  • Bilingual el/en templates with safe-escape placeholders
  • IBAN masking scheme — only last 4 digits in the SMS
  • VoP-mismatch fallback plan (two-step confirmation)
What 4notify does differently

Ready-made templates for Cypriot banks with built-in IBAN masking, P99 <5s — no need to build your own SMS engine.

FAQ
How does 4notify handle VoP (Verification of Payee)?

The core banking system runs the check before accepting the transfer. 4notify simply serves the notification, with a „match", „close_match" or „mismatch" indicator in the payload.

What about amounts above €100,000?

Under SEPA Instant, the €100k cap was lifted in 2025. 4notify enforces no limit of its own; for large amounts, the email channel auto-engages as an extra record.

Start free

14 days, no card. Support in Greek and English.

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