In an increasingly digitalized world, Speed and immediacy have become key factors in meeting people’s financial needs. Thus, instant bank transfers have been positioned as an essential solution to facilitate fast and secure economic transactions.
From paying an urgent debt, paying financial amounts to acquaintances in an emergency or making purchases in real time, The possibility of transferring money instantly offers the peace of mind and agility of being able to manage personal finances.
In this sense, Looking ahead to 2025, the way of making online money transfers will immediately change. Therefore, here we tell you how it will change, when it will come into effect and what will be the price to pay in commissions.
Change in immediate transfers for 2025: these are the changes and what will have to be paid for commissions
The European Union has established a new regulations that require banking entities to offer immediate transfers for free. This measure, which will come into force in 2025will mean significant savings for consumers, since, until now, they had to assume commissions that, in Spain, they could reach 12 euros.
“The immediacy of transfers must be guaranteed regardless of the day or time; the money must reach the recipient’s account within 10 seconds”points out the European Parliament in a statement distributed to inform about the new regulations.
In this way, the text, which It was approved in February 2024 by the Plenary Session of the European Parliament with 599 votes in favor, 7 against and 35 abstentions, he assures that he seeks “avoid waiting for retail customers and businessesespecially SMEs, as well as improving the security of transfers.
When will the new regulations come into force in Spain
The new European regulations on instant transfers entered into force 20 days after its publication in the Official Journal of the European Union. However, the European transposition in Spanish legislation, prior publication in the Official State Gazette (BOE)gives banking entities a period to implement and launch these measures, in order to “adapt your systems and offer this service free of charge to all your clients”.
So, This period extends for nine monthsTherefore, the new systems to receive transactions for free they will have to be available for all Spaniards before next October 9, 2025not like that to make these free immediate transfers, since for this the banks will have a period of 18 months.
However, the regulations indicate that EU countries whose currency is not the euro will also have to apply the ruleswhen the accounts already offer regular transactions in euros, although after a longer transition period.