Next Day 9 Changes Immediate Payments

02/10/2025

The European regulation on instant payments obliges banks to offer instant credit transfers in euros, if they already offer ordinary credit transfers in this currency, as of October 9, 2025.

What are instant transfers?

They are payments that are paid into the beneficiary's account in a matter of seconds and that are available at any time and every day of the year, both in Spain and in any other country of the European Union. The payer and payee can instantly check whether the payment has been made, and the payer has immediate access to the funds.

As in the case of ordinary transfers, once the shipment has been made, it can only be returned if the beneficiary accepts it. It is important to be sure before proceeding!

Instant transfers can be ordered from any channel, such as online banking, offices of payment service providers, ATMs, self-service terminals and by phone.

As an example of what comes, Bizum is a payment solution based on the use of instant transfers.

What does the regulation guarantee?

• Access to instant credit transfers from any channel through which the payment service provider offers ordinary credit transfers.
• Same cost, or less, than ordinary transfers.
• It is possible for the user to set limits to the amount per operation or per day, modifiable at any time with immediate effect. 
• Payment service providers are obliged to offer the payee verification service, which makes it possible to verify that the name of the payee matches the holder of the account to which the funds are sent.

“Disclaimer: Please note that this is a translation of the original in Spanish that has been obtained using eTranslation (the machine translation tool provided by the European Commission), with the intention of giving you a basic idea of the content in English until a human translation becomes available. The Banco de España accepts no liability whatsoever in connection with this translation.”