What is SEFT?

SEFT is short for Seychelles Electronic Funds Transfer which is an electronic domestic funds transfer system setup between all banks in Seychelles, the system facilitates domestic rupee money transfers through a secure online communication channel in a safe and efficient manner, minimising the need for physical exchange of cash and manual processing. SEFT provide bank customers with the means to initiate payment transactions through online web-access from the convenience of their homes and businesses. In addition to interbank domestic funds transfers, SEFT also support payments from a banking institution to Payment Service Providers (PSPs). SEFT can be accessed via the SEFT mobile application, available on the App Store and Google Play, which allows customers to view on their mobile phones, the status of payments initiated and payments received online.