TIPS (TARGET Instant Payment Settlement) is the (pan-European) service for settling instant payments. It operates 24 hours a day, every day of the year.
Participation in TIPS is open to any entity that meets the conditions for participation in TARGET and that has adhered to the pan-European instant payments scheme (SCTInst). Individual entities can join TIPS directly, i.e. by opening a special account in TARGET (a dedicated cash account for TIPS), or through another participant. All Slovenian banks and savings banks that offer payment services participate in TIPS directly.

In this the TARGET participants that participate in TARGET for the purpose of carrying out large-value payments and have adhered to the SCTInst scheme, are bound to ensure their connection toTIPS. In this way the customers of banks that offer instant payment services are able, via TIPS, to exchange instant payments in euros with all legal and natural persons across the entire EU, 24 hours a day, every day of the year, as long as their payment service provider offers instant payment services in line with the SCTInst scheme.