TARGET Services T2-T2S-TIPS
Funds transfers between banks in the EU are effected through De Nederlandsche Bank (DNB) and the other central banks using a dedicated payment system: T2. There is a similar dedicated platform for securities transactions: TARGET2 Securities (T2S). TARGET stands for Trans-European Automated Real-Time Gross Settlement Express Transfer system. Over 1,000 banks use T2 to carry out euro transactions, for themselves or on behalf of their customers.
TARGET Instant Payment Settlement is a service that banks can use to transfer funds instantly for there customers, within seconds, 24 hours a day and 7 days a week (24/7).