Credit transfer
A payment pushed from the payer's account to the payee's account on the payer's instruction.
Under PSD2, a credit transfer is a payment service for crediting a payee's payment account with a payment transaction or series of transactions from a payer's payment account, carried out by the payer's provider on the payer's instruction. It is a push payment: the payer's side sends the money, unlike a card payment or direct debit, where the payee's side collects it. Push payments are hard to reverse once sent, so agent-initiated transfers need strong checks before execution.
Agent Minute explains this term on 4 December 2026.
Related terms
Direct debitA payment collected by the payee from the payer's account on the basis of the payer's prior consent.Instant paymentA credit transfer executed within seconds, at any time of day, every day of the year.Payment initiation serviceA service that initiates a payment order at the user's request from an account held at another provider.APP fraud reimbursementUK rules requiring payment firms to reimburse victims of authorised push payment scams, within set conditions.