Happy new year – and good news to start 2025!Beginning today, our instant payments rules will gradually start to come into effect. The new rules will allow people to transfer euros within 10 seconds – any time, any day of the year, across the EU – at the same costs or cheaper than regular transfers. This marks a major improvement for EU citizens and businesses, and it is a significant milestone in the modernisation of our payment systems. The gradual rollout of these rules will ensure a smooth transition, with key deadlines including: - As of 9 January 2025, payment service providers in the euro area will be required to charge the same or lower fees for instant payments as for regular transfers. Additionally, providers that do not yet offer instant payments in euro will have to make it possible for their clients to receive them.
- As of 9 October 2025, payment service providers in the euro area will have to ensure that their clients are also able to send instant payments in euro, and verify the intended beneficiary.
- In 2027, payment service providers outside the euro area will also be required to allow their clients to send and receive instant payments in euro and to verify the beneficiary.
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