The Bank of Spain confirms a change in immediate transfers: an obligation will come into effect from this date.

Instant transfers are a very useful tool for bank users because they allow them to transfer money from one account to another without waiting, very similar to Bizum transactions. However, not all banks were required to provide this service.

Everything will change in a few days. The Bank of Spain confirmed this on its blog : the regulation on immediate transfers has imposed a deadline on all banking institutions providing ordinary transfer services in euros to offer their customers the option of immediate payments .

"The European regulation on immediate payments requires banks to offer immediate transfers in euros, if they already offer regular transfers in this currency, starting October 9, 2025 ," the agency explains.

The Spanish central bank refers to European Regulation 2024/886 ( you can consult it at this link ), which establishes that "payment service providers that offer their payment service users a payment service for sending and receiving transfers must offer all their payment service users a payment service for sending and receiving immediate transfers ."

According to the Bank of Spain, the regulations impose on banking institutions regarding immediate payments as follows:

• Access to immediate transfers through the same channels as regular transfers.
• That the cost of immediate transfers is equal to or lower than that of ordinary transfers.
• Give users the ability to set limits on the amount of immediate transfers, either per transaction or per day, and this can be modified at any time with immediate effect.
• Banks will be required to offer a beneficiary verification service to verify that the name of the transfer recipient matches the name of the account holder to which the funds are being sent.