TARGET2

Funds transfer.

TARGET2 (Trans-European Automated Real-time Gross settlement Express Transfer system) was an interbank payment system for the real-time processing of cross-border transfers throughout the EU.

Strictly speaking it was not itself a funds transfer system, rather it linked other national payment systems.

TARGET2 was the successor to the earlier TARGET payment system.

TARGET2 replaced TARGET in 2008.

T2 replaced TARGET2 in March 2023.

See also

• Clearing House Automated Payment System (CHAPS)
• European Union
• Gross settlement system
• ISO 20022
• Payments and payment systems
• T2
• TARGET Instant Payments Settlement
• Trans-European automated real-time gross settlement express transfer
• United Payments Interface (UPI)