From January 9, 2025, new EU regulations will come into force requiring banks to offer real-time transfers for euro payments. This regulation promises to make the transfer system faster and more transparent. But what does this mean for you as a consumer? What will change and what will stay the same?

Real-time transfers: Finally for everyone?

Many banks and savings banks have been offering real-time transfers for several years now. But until now, this has been more of an optional extra and not available everywhere. From January 9, 2025, all banks in the EU must offer instant money transfers, at least in euros - around the clock, 365 days a year. This means that your money will reach the recipient within a few seconds, regardless of whether it is a public holiday or a weekend.

Is there an upper price limit?

The EU has clearly stipulated that real-time transfers must not be more expensive than normal standard transfers. For example, anyone who pays 25 cents for a normal transfer will no longer have to pay for an instant transfer. This is a fair step, as in the past it was often the additional fees that prevented many consumers from using the new technology. However, there is no guarantee that this regulation will always be implemented perfectly in practice.

Safety is improved, but caution is still required

The introduction of real-time transfers also brings with it new security mechanisms. An automatic comparison of the IBAN and the recipient's name should prevent payments from being sent by mistake or to fraudsters. If there are any discrepancies, warning messages will appear. But don't worry - you as a consumer can also set maximum amounts to limit potential losses.
But there are also critical voices. Consumer advice centers warn that recovering real-time transfers in the event of fraud could be more complicated. The fast and irrevocable nature of these payments could provide a new target for criminals. You should therefore be particularly vigilant when banking online and avoid clicking on suspicious links in emails.

What does this mean for the future?

From October 2025, all banks will be obliged to offer real-time transfers for shipping - and by 2027, payments in other EU currencies will also be possible immediately. This could fundamentally change the way we handle money on a daily basis. For all of us, this means greater speed and convenience, but also the need to get used to the new security standards.

Of course, more speed and fewer waiting times are fundamentally positive. But even if the EU is setting a good example here, we have to ask ourselves: do we really have enough control over the security of this new technology? Fraudsters will certainly not only be deterred by slow transfers. We at Recht 24/7 believe that consumers need more protection and information. And we warn of the dangers that come with the speed of payments - it remains to be seen how well banks and customers will handle this responsibility.