From the 9 October 2025 will come into effect the new European rules on instant bank transfers, provided for by EU Regulation 2024/886, which marks the second phase of the European Union's plan to make payments faster, digital and safer. From today all banks, Poste Italiane and other payment service providers will be obliged to offer to its customers the possibility of making instant transfers and to use the new beneficiary verification feature (Verification of Payee), which will automatically check that the IBAN matches the recipient's name before authorizing the payment.
Free instant transfers (but not for everyone)
The European regulation is being developed in two phases. The first, which has already begun the January 9 2025, has imposed on credit institutions to eliminate i surcharges compared to traditional bank transfers. According to Altroconsumo data, the average cost of an online bank transfer (regular or instant) is now 0,64 euros, while in the past the average was 1,34 euros, with peaks of up to 7,75 euros. Today, many online banks offer Instant bank transfers completely free, allowing concrete savings for account holders and encouraging the adoption of this tool.
Instant bank transfers, the new rules: here's what's changing starting today
With the second phase, in force from the 9 October 2025, instead the obligation to also offer the sending of instant bank transfers and to activate a automatic beneficiary verification system, which provides real-time feedback on whether the recipient's details are correct. This new feature will let you know immediately whether the IBAN and recipient's name match perfectly, only partially, or whether they cannot be verified. Users can then decide whether to complete the transaction or abort it, thus reducing the risk of risk of errors or fraud.
Instant transfers: what's the maximum amount?
I transfers instantaneous allow you to transfer money in less than 10 seconds, at any time of the day, 24/24, even on holidays. Funds are credited immediately to the recipient's account.
Every bank account in Europe will have to allow instant bank transfers. up to 100 thousand euros, a uniform limit for all countries of the Union. However, each bank can set lower thresholds or allow users to customize their limits. Until now, this service was only available for certain accounts or digital channels.
The plan also provides that, from 9 April 2027, the obligation to offer instant transfers will be also extended to banks in countries outside the Eurozone, as well as to Electronic Money Institutions (IMEs) and Payment Institutions (PIs).
Instant transfers: how beneficiary verification works
La new beneficiary verification feature It represents an important step in the fight against payment errors and banking fraud. When a customer enters their data to make a bank transfer, the system will automatically compare the IBAN and the recipient's name, returning a result indicating whether the data matches.
If an inconsistency is detected, the bank will immediately notify the customer, who can choose not to proceed. However, if the user decides to complete the payment anyway, the responsibility for the error lies with the payer, not the bank.
This double check It protects both customers and credit institutions by reducing the possibility of irreversible errors. The option to request a refund remains, but only if the bank is promptly notified of the suspicious transaction.
Benefits and new features of instant payments
According to ABI, instant transfers will continue to evolve in the coming months with the introduction of new features, such as the ability to schedule future or recurring transfers. These innovations will make instant transfers more convenient. increasingly digital banking services, fast and personalized, for the benefit of both consumers and businesses.
The Italian Banking Association However, it urges people to remain vigilant: it is always essential to carefully verify the beneficiary's information, be wary of suspicious requests or unreliable online sellers, and never share sensitive information or login credentials.
