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Automated Clearing House - SENT

SENT is an electronic system for the multilateral clearing of low-value interbank payments sent among participants, during several daily sessions. This system stands apart due to the large number of instructions processed daily (about 95% of total interbank payments) and their low individual value, as well as due to the use of the TFDNet virtual private network for message exchange between participants and the system. This type of system is known as the Automated Clearing House - ACH.


Participants to the SEPA schemes in the EURO area reachable via SENT

Eligible institutions:

Types of transactions processed:

Core features of SENT:

Additional facilities

SENT provides a large number of facilities for file preparation, submission, management, monitoring and notification to participants and TRANSFOND, as follows:

One specific SENT aspect is that the instructions are submitted by participants in the system as instructions files (batches). The system allows participants two alternative processing modes, having the right to choose whichever suits them best, namely:

The clearing of instructions is done at batch level, permanently monitoring the compliance with each participant's collateral limit (the net position is permanently covered by the collateral voluntarily set up by participants).

The clearing of a validated file (as regards format and collateral) is done during the pre-established clearing periods via the SENT timetable, by real-time processing (immediately after validation) in the technical accounts of the involved participants (initiator and receiver).

Operating days

SENT is operational only on ReGIS and TARGET2 business days, as the final settlement of the NSI (Net Settlement Instruction) takes place in these systems. Wuth regard to euro cross-boarder payments, they are processed in accordance with the operating hours of the external partner, Worldlines.

SENT timetable

The SENT timetable currently includes 3 settlement sessions during business days, each having the same preset times.

TRANSFOND's role in SENT operation

TRANSFOND is the owner of the SENT IT infrastructure, the administrator and technical operator of the system.

In this capacity, TRANSFOND:



The Instant Payments Service (Plăți Instant) was completed in December 2018, and the official launch for consumers was on April 22nd, 2019. This service processes small value payments 24/7 in a maximum of 10 seconds, account-2-account, according to standards in the field.

Such a platform offers the possibility to collect payments in real time (within a few seconds of the payment initiation), for individuals - users of internet and mobile banking, legal entities - traditional merchants, virtual stores, businesses in any industry, as well as authorities. The step forward marked by the real-time "account-to-account" payments, compared to the standard time of execution of payments for any type of beneficiary among those mentioned above, respectively a number of hours or days from the payment order initiation, is a considerable one and has the potential to stimulate performance both in the case of businesses, as well as authorities that implement such an option for payment collection.

At international level, as well as at European level in particular, the authorities in the field, together with experts in the profile industry, consider that instant payment processing is becoming the new standard for processing payments of all types, but especially retail ones.

In line with the general trends described, the development strategy of TRANSFOND aims to replace, in the future, at a date that will be agreed together with the local banking sector, the SEPA type payment orders currently implemented, with instant payment orders.

Advantages of the service:

a)       For payment service providers:

b)      For businesses that will implement the "Instant Payments" tool (traditional merchants, virtual stores, businesses in any other field), the advantages would be:

c)       Individual consumers, users of mobile banking or any other application that offers the possibility of using instant payments may reach the stage where they no longer have to carry anything other than a simple mobile device (usually a telephone), in order to purchase goods and services in the public space or to make payments to friends.

d)      Central and local authorities, through their own fiscal structures, can benefit from instantaneous budget revenues, with all the related benefits, having the possibility to offer new incentives for the payment of taxes and duties, if the revenues come through Instant Payments.


AliasPay - Simplified payments using the mobile phone number instead of the IBAN

Following the same development line of payment services offered, in September 2020, TRANSFOND completed a new service - Alias​​Pay – available 24/7/365.

Through this service, TRANSFOND offers the possibility of simplified initiation of payments between two accounts opened with different banks, using only the mobile phone number of the payment beneficiary.

AliasPay is a Standardized Proxy Lookup (SPL) service that allows payments initiation based on an alias (mobile phone number) that the payer knows. AliasPay connects the IBAN account number of the payee to the alias, for payment service providers. In implementing the service, TRANSFOND used the SPL scheme of the Romanian Association of Banks.

This feature will be offered to end consumers (individuals or legal entities) through banks/payment service providers that will become participants in AliasPay. The AliasPay documentation has been published and is availablefor them, as an integral part of the SENT System Rules (Clearing House for interbank payments in lei and in euro, owned by TRANSFOND). Therefore, the access of financial service end-users to AliasPay is determined by the prior accession of their own banks / payment service providers to this service.