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Super-fast and secure transfers between all euro countries from now on

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From 9 October 2025, Dutch people will be able to transfer euros super-fast to all banks in other euro countries within ten counts, all days of the year and any time of the day. Conversely, we will then also be able to receive super-fast transfers from all other euro countries at any time. Moreover, the familiar IBAN Name Check will work from that date onwards for all IBANs in all euro countries. This will enable Dutch people to pay and receive credit transfers throughout the euro zone in the same way as we have been accustomed to doing in the Netherlands for years.

Man in pak met pilotenbril balanceert op een raket die met vaart over een stad vliegt, wat snelheid en vooruitgang verbeeldt.

Mandatory by law

On 9 October, the European “Instant Payments Regulation” will take full effect for all banks in euro countries. That regulation requires banks to offer instant euro transfers (Instant Payments) throughout the eurozone to their customers. In doing so, every bank must support an IBAN Name Check that also works for IBANs in other euro countries.

The successful nationwide introduction between 2017 and 2019 of Instant Payments and of the IBAN Name Check within the Netherlands was a shining example for the rest of the eurozone.

Convenience, security and peace of mind

Mandatory super-fast transfers with IBAN-Name Check between all eurozone countries(opens in new window) offer great convenience, security and peace of mind in cross-border payments, not only for entrepreneurs but also for consumers. Think of paying for a used car from a private individual in Germany. Or a grower who can settle a batch of tulips directly with an unknown French occasional buyer.

Settling on receipt

Thanks to mandatory Instant Payments throughout the eurozone, a buyer does not have to pay in advance to an occasional foreign buyer. A seller does not have to deliver on invoice in advance to an occasional foreign buyer. In other words, a buyer and a seller from different eurozone countries who do not know each other can now settle directly and securely with each other upon delivery; ‘pay on delivery’ without piles of cash.

With the support of the Payments Association, many members worked hard prior to 9 October 2025 to expand instant transfers and the IBAN Name Check for payments to and from all other euro countries. Some small members who did not yet offer Instant Payments at all were able to introduce them smoothly with the help of the Payments Association, in line with the new legislation.

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