Real-time transfers become mandatory: New EU rules from October 2025

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Real-time transfers in the EU: From October 2025

From October 2025, banks across the EU must enable real-time transfers, with new security checks and at no additional cost.

At the end of October 2025, important changes in bank transfers are due for bank customers in the EU. From then on, all banks and savings banks in the eurozone will be obliged to offer real-time transfers. The money transfer then takes place within ten seconds, regardless of the day of the week or the time. The new rules concern not only the receipt, but also the sending of money. So far, many banks have offered to receive real-time transfers, but have charged high fees for sending them or have not even made it possible. As a result, many customers prefer to switch to services such as PayPal or Klarna when it has to be done quickly. That should be over soon. On February 7, 2024, the EU Parliament adopted new regulations that have officially been in force since April 4, 2024. The financial institutions must implement the requirements by October 2025 at the latest. The real-time transfer must not cost more than a standard transfer. These are usually free of charge. The new regulation is intended to unify payment transactions in the EU and make them faster.

Security for transfers is improved

However, the high speed also entails risks. Because as soon as the money ends up in the wrong account, it's gone in seconds. In order to prevent such errors and fraud cases, an additional security measure will take effect from October 2025. In the future, banks and savings banks will have to check whether the name of the payee matches the specified IBAN before the transfer. If the system detects a difference, you must inform customers before confirming the transfer. Thus, errors can be noticed and corrected in a timely manner. The new rule applies in all 27 EU member states as well as in Norway, Iceland and Liechtenstein. Banks that offer euro accounts have until October 9, 2025 to implement this recipient verification. For institutions that work with other currencies, the deadline runs until July 9, 2027. The process is clearly regulated in the EU Regulation on "Changes with regard to real-time transfers in euros". It states: "The recipient verification is carried out by the payer's payment service provider immediately after the payer has provided the relevant information about the payee and before the payer is given the opportunity to authorize this transfer."

Banks are responsible for mistakes

The recipient verification applies not only to real-time transfers, but also to standard transfers. This means that banks will also have to reconcile the recipient name and IBAN for traditional bank transfers in the future. If they do not comply with this obligation, the banks bear full responsibility for incorrect transfers. In concrete terms, this means that if a financial institution makes a transfer without the necessary verification, it must immediately repay the transferred amount. In addition, the account must be restored as if the payment transaction had never taken place. The new regulation is intended to make payment transactions safer for consumers and at the same time significantly increase the convenience of transfers.