Since 9 October 2025 payment service providers in euro-area countries must let customers send SEPA instant credit transfers at the same price as normal transfers and must check that the payee name matches the IBAN before every transfer (Verification of Payee), warning the payer of mismatches. Receiving instant payments was mandatory from 9 January 2025.
Banks and payment institutions directly; every business that pays or gets paid by bank transfer is affected because payments with a name/IBAN mismatch now trigger warnings and may be delayed.
Sizes: micro, small, medium, large · Sectors: All sectors · Applies if: We invoice other businesses (B2B); We sell online; We sell to consumers (B2C)
Make sure the exact legal name on your invoices and supplier master data matches the account holder name registered with the bank, including for bulk payment files. Update invoice templates and customer instructions. Consider instant payments for faster cash collection and refunds.
Last verified 7 September 2026. Informational only, not legal advice.
Receiving instant euro payments is mandatory for non-euro-area PSPs from 2027-01-09; sending and VoP from 2027-07-09
Banks and payment institutions in non-euro Member States; businesses in Poland, Sweden, Czechia, Hungary, Denmark, Romania and Bulgaria paying or receiving euros.