From 9 October 2025, thanks to new EU rules on instant payments, people and businesses can transfer money in euro within seconds. They can do so any time – day or night – weekdays or weekends, and in every country in the eurozone.
How does it work?
In a nutshell, payment service providers in the euro area now have to offer their clients the possibility of sending instant payments in euro. They have been obliged to offer the possibility of receiving euro instant payments since January of this year. Furthermore, payment service providers must now also offer the service of payee verification. This means that a payee’s name must match the provided IBAN in order for a payment to be processed, which helps prevent mistakes and scams. Similar tools have already been in place in the Netherlands and the UK for several years and have proven effective in preventing certain types of payment fraud. Together, these moves will make instant payments safer, cheaper, and more widely available.
What’s changing – in more detail
- Instant transfers 24/7: Transfers in euro that used to take days will now reach the recipient in a matter of seconds
- No extra fees: Banks and other payment services will not be able to charge more for an instant payment than they would for a standard credit transfer
- Free payee verification: Providers must verify that the name of the recipient matches the IBAN provided – and this service must be free of charge
- Lower costs: New rules will mean that payment and e‑money institutions will be able to directly participate in payment systems, so they can provide their services – including instant payments – more efficiently
Who will benefit?
The new rules bring major benefits for individuals and companies alike. For individuals, they mean that money is available immediately. Consequently, managing household budgets will be more efficient, funds can be received more quickly in the event of an emergency, and simply splitting the bill in a restaurant will be easier. For companies, meanwhile, the new rules will help improve cash flow management, as well as customer service. And by providing an additional payment method to customers, they will save time and reduce costs. Beyond that, public administrations will also benefit from improved cash flow management and better collection of fiscal receipts, NGOs and charities can make use of contributions more quickly, and banks can use instant payments as a springboard to develop innovative financial services for their customers. More broadly, the rules will boost Europe’s economy and help reduce overreliance on non‑EU payment providers, by offering new methods of payment at points of sale.
What happens next?
From January 2027, euro instant payments will also be available outside the euro area. The Commission will be closely monitoring implementation in Member States, to ensure that instant payments remain affordable and accessible for everyone.
Related links
Read more about EU payment services
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