RTGS

RTGS (Real-Time
Gross
Settlement)

Hero Tagline: Immediate settlement for eligible high-value payments where available.

RTGS is a settlement method that provides immediate, transaction-by-transaction
settlement between participants, typically used for high-value, time-critical
transfers.

About This Service

IP 2 IP Interbank Transfer

Prominence Bank’s IP 2 IP (Internet Protocol to Internet Protocol) Interbank Transfer service enables direct, secure fund movement between financial institutions using modern IP-based messaging protocols — faster, more efficient, and fully compliant.

Available exclusively to Prominence Bank account holders, this service is delivered with institutional-grade compliance, full documentation, and dedicated relationship management support.

Key Benefits

Direct interbank connectivity (corridor dependent)

Potentially faster execution once configured

Enhanced operational coordination for institutional use cases

Strong security posture through controlled connectivity

Step by Step

How It Works

1 Instruction Submission

Client submits an RTGS instruction with beneficiary details and purpose.

2 Compliance Screening

Bank confirms system availability and performs compliance screening.

3 System Processing

Instruction is processed through the applicable RTGS system.

4 Fund Settlement

Beneficiary receives cleared funds upon settlement.

Real-World Applications

Typical Use Cases

High-Value Payments

Urgent high-value domestic payments where RTGS is available..

Time-Critical Settlements

Time-critical settlements requiring cleared funds.

Treasury & Finality

Corporate treasury payments with finality requirements.

Requirements

Eligibility & Compliance

Important Disclaimer

RTGS operates within defined windows. Once settled, transfers are typically final and irreversible.

KYC/AML

Sanctions Screening

Risk-Based Approval

Bank Verification

Common Questions

Frequently Asked Questions

Find answers to the most common questions about our RTGS (Real-Time Gross Settlement) service.

Question: What is RTGS?

Answer: RTGS (Real-Time Gross Settlement) is a specialized immediate settlement method between participants. It is typically used for a high-value payment or an urgent bank transfer, ensuring that value is transferred individually and instantly across the network.

RTGS real-time gross settlement immediate settlement high-value transfer payment system

Question: Who can use RTGS at Prominence Bank?

Answer: Access to an RTGS transfer is available to eligible Prominence Bank account holders. Usage is subject to corridor and system availability, as well as rigorous compliance checks required for every high-value payment.

account holders eligibility corridor availability compliance high-value payments

Question: How fast is RTGS?

Answer: An RTGS transfer settles in real time once processed. As long as it is within the operating hours of the relevant real-time gross settlement system, you can expect immediate settlement and the delivery of cleared funds to the beneficiary.

real time settlement speed operating hours instant transfer cleared funds

Question: Is RTGS reversible?

Answer: RTGS transfer transactions are typically final once settled. Because they provide immediate settlement of cleared funds, reversals are not guaranteed and depend heavily on the beneficiary’s cooperation and system finality.

finality irreversible reversal settlement beneficiary cooperation

Question: When is RTGS used?

Answer: This method is chosen for an urgent bank transfer where a high-value payment must be settled immediately. RTGS transfer is ideal for time-critical, large transfers that require a guaranteed cleared settlement without delay.

urgent payment high value cleared settlement time-critical large transfer

Question: What compliance checks apply?

Answer: For large high-value payment flows, strict KYC/AML and sanctions screening apply. Supporting documentation may also be required for an RTGS transfer to ensure the integrity of the real-time gross settlement process.

KYC AML sanctions monitoring supporting documents large value

Question: Can RTGS be used outside business hours?

Answer: Availability depends on the specific real-time gross settlement system’s operating window. Any urgent bank transfer instruction sent after hours may be queued for the next session to ensure proper immediate settlement.

business hours operating window queued payments next session cut-off

Question: Is there a minimum amount for RTGS?

Answer: Some real-time gross settlement systems apply minimum thresholds for a high-value payment. The bank will confirm the eligibility for an RTGS transfer based on specific corridor and system rules.

minimum amount threshold corridor rules system eligibility RTGS

Become an Account Holder to Access This Service

Become an account holder to access this service and more. Open an account online or contact Prominence Bank for an eligibility review.

Need assistance? Call us on +44 20 8895 6493 or contact us online.