THE European Union gave last February green light TO new rules of the financial sectorwho try to impose the condition that the bank transfers in euros are executed in less than 10 seconds I already offer it service al same price compared to the rest.
The new regulations
Him new regulation accepted last February provides that the bank transfers in euros sean instant, processed immediately regardless of the day and time they are received. I am rules will allow the recipient collect the money In less than ten seconds, both in transfers inside the same country or inside Anyone of European Union.
THE EU explained the process: “THE immediacy of transfers must be guaranteed with independence from day and time; Him money duty reach the recipient’s account within a period of 10 seconds. Him payer it must also be informed within a period of ten seconds if the funds transferred were put to receiver layout“, they confirmed through a press release.
On the other hand, it is also expected changes in commissions of transfers: these They cannot entail any additional cost for the customer. Him transfer price It cannot be immediate superior to the one who would have a normal transfer in euros.
The start date
AND new regulation forces the entities located in the euro area to be lists TO receive immediate transfers And November. Furthermore, the regulation It also encourages having the facilities prepared to get started send these instant transactions In August 2025.
What are the key benefits of the EU’s new instant bank transfer regulations for consumers?
Interview between Time.news Editor and Financial Sector Expert
Time.news Editor (TNE): Welcome to Time.news! Today, we have the pleasure of talking with Dr. Elena Martinez, a renowned expert in financial technology and regulation. Hi, Dr. Martinez, and thank you for joining us.
Dr. Elena Martinez (DEM): Thank you for having me! I’m excited to discuss these recent developments in the financial sector.
TNE: Let’s dive right in. The European Union has recently given the green light to new rules requiring that bank transfers in euros are executed in less than 10 seconds. What does this mean for consumers?
DEM: This is a significant step for consumers. Firstly, instant transfers will greatly enhance the efficiency of the banking system. Users will no longer have to wait for hours or even days for their transactions to clear, which can be especially crucial for urgent payments.
TNE: Absolutely, that immediacy can make a big difference. Can you elaborate on what “instant, processed immediately” means in terms of the technology involved?
DEM: Sure! The new regulation mandates that all euro transfers be processed in real-time, no matter when they are received. This likely involves the use of advanced payment systems and infrastructure, allowing banks and financial institutions to communicate and process transactions instantly, integrating technology like blockchain to facilitate speed and security.
TNE: That sounds revolutionary! How do you foresee this impacting cross-border transactions within the EU?
DEM: It should greatly simplify them. Right now, cross-border transfers can be cumbersome and slow due to varying banking systems and processes across member states. The new regulation will standardize these transfers, ensuring that they are as fast and efficient as domestic transactions, which could lead to increased economic activity and cross-border trade within the EU.
TNE: And what are the implications for the cost of these transactions? Is there a risk that consumers could end up paying more for these instant transfers?
DEM: Interestingly, the EU has stipulated that these services should be offered at the same price as traditional transfers. This means consumers might actually benefit without seeing an increase in fees, which is a crucial aspect of this regulation. It encourages banks to adopt these systems without passing on costs to consumers, promoting fair competition.
TNE: So, we could be looking at a more consumer-friendly financial environment. What challenges do you anticipate banks might face in implementing these new rules?
DEM: Banks will need to invest in technology upgrades to meet these requirements. There are operational challenges as well, especially for institutions with outdated systems. Additionally, ensuring security will be a priority as more transactions are processed instantly. Cybersecurity threats could increase, so robust security measures will have to be in place.
TNE: Security is indeed a critical concern in the digital age. As we move into this new realm of banking, how do you think consumers can protect themselves?
DEM: Consumers should remain vigilant, especially when it comes to sharing personal banking information. It’s important to use secure platforms and be aware of potential phishing attacks, especially as instant services become more popular. Staying informed about banking practices can help consumers safeguard their assets.
TNE: Sound advice! Lastly, Dr. Martinez, what do you see as the future of banking in the EU following this regulation?
DEM: The future looks bright! We might see the emergence of new financial services, healthier competition among banks, and ultimately, a more integrated European financial market. This regulation could pave the way for even more innovations in fintech, enhancing convenience and support for consumers and businesses alike.
TNE: Thank you, Dr. Martinez, for sharing your insights. It’s clear that these new regulations are a positive step forward. We appreciate your time today!
DEM: Thank you! I enjoyed our discussion.