New law from 2025: Your transfers safer and at lightning speed!

New law from 2025: Your transfers safer and at lightning speed!

From October 9, 2025, a new EU regulation comes into force that brings significant changes in payment transactions in the euro zone. This regulation, known as Ordinance (EU) 2024/886 , aims to improve protection for consumers in transfers. Banks will be obliged to ensure that the name of the payee matches the entered IBAN before a transfer is released.

According to the new guidelines, the banks must inform the payers about the result of this review within seconds. This measure, known as the recipient check or Verification of Payee (VOP), is carried out both in online banking and on the bank switch. The aim of this initiative is to ensure additional security, especially when it comes to online banking, and to reduce the risk of fraud or incorrect transfers.

implementation and expansion of the rules

The regulation, which was passed by the European Parliament and the Council on March 13, 2024, modified existing regulations and guidelines and is considered significant for the entire European Economic Area (EEA). The publication in the Official Journal of the European Union took place on March 19, 2024. The complete implementation of the new security measures is to be extended to all Member States of the European Union by July 9, 2027, including countries outside the euro zone.

A central component of the new regulations is also the real -time transfers. From January 2025, all payment service providers who offer regular euro transfers will be obliged to provide real-time transfers around the clock. These enable an immediate credit on the recipient account within seconds and represent a significant improvement in payment transactions.

protective mechanisms and fees

In order to combat fraud and incorrect transfers, strict security requirements are implemented, including the mandatory recipient check. In addition, banks may not raise higher fees for real-time transfers than for regular SEPA transfers. Consumers also have the option of specifying individual upper limits for real -time transfers, which contributes to avoiding unwanted debit.

In addition, banks have to check their customers for sanction lists every day to prevent money laundering and terrorist financing. In the case of incorrect real -time transfers, banks are obliged to reimburse the amount immediately. These measures are part of a larger goal of creating a harmonized and safe payment system in the EU, which promotes innovations and offers consumers more security.

The measures and requirements that apply to banks in euro countries from 2025, as well as the associated changes, are an essential part of the endeavor to create a more trustworthy payment environment. The reporting of vienna.at and the additional information from of the law firm KES emphasize the relevance and urgency of these changes.