EU Instant Euro Payments Regulation

by name voted on 07.02.2024

Summary

New EU rules mandate that banks and payment providers offer instant euro transfers 24/7 at no extra cost compared to standard transfers.

9 07.02.2024

Report

economy

finance

european union

administrative law

public administration

business and competition

information technology and data processing

Key points

Mandatory availability of instant credit transfers in euro for all payment service providers.
Funds must be made available to the payee within 10 seconds of the transaction being received.
Fees for instant transfers cannot be higher than those for standard credit transfers.
Banks must provide a free service to verify that the name of the recipient matches their bank account details.

Vote

PPE

S&D

Renew

Verts/ALE

ECR

ID

NI

The Left

Total

Speeches

24 Speeches in total

Pro

Contra

Roberta METSOLA

Roberta METSOLA

PPE

0:17 min

9. Negotiations ahead of Parliament’s first reading (Rule 71)

Eero HEINÄLUOMA

Eero HEINÄLUOMA

S&D

1:08 min

14. Instant payments in euro ***I (debate)

Documents (PDFs)

PROVISIONAL AGREEMENT RESULTING FROM INTERINSTITUTIONAL NEGOTIATIONS Proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 260/2012 and (EU) 2021/1230 and Directives 98/26/EC and (EU) 2015/2366 as regards instant credit transfers in euro DRAFT REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 260/2012 and (EU) 2021/1230 as regards instant credit transfers in euro REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 260/2012 and (EU) 2021/1230 as regards instant credit transfers in euro Instant payments in euro

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