The Electronic Clearing System is the payment system of Latvijas Banka, which ensures the processing of customer retail payments across the SEPA area.
The Electronic Clearing System provides 2 services:
- clearing service that performs net settlement and provides several clearing cycles for settlement on the EKS on a business days in euro.
- instant payments service that provides continuous payments by executing customer payments within seconds, 24 hours a day, 7 days a week, 365 days per year.
Upon starting to use the services of an EKS service, an EKS participant becomes the user of Proxy Registry "Instant Links".