From 9 October 2025, all banks, savings institutions and payment service providers in the European Union will be required to offer instant payments in euros across all channels. This means that both domestic and cross-border transfers within the euro area will reach recipients in just 10 seconds, at any time of the day or week, including weekends and holidays.

Until now, instant payment options were available only through specific systems such as Flik, which already enables real-time money transfers between users of Slovenian banks. According to Bankart, over 800,000 users in Slovenia exchange around two million transactions monthly via Flik, and more than 80% of all SEPA (Single Euro Payments Area) transactions in Slovenia are already processed instantly.

The new EU regulation extends this convenience to all euro transactions across the EU, enhancing both speed and security. In addition to immediate fund availability, the reform introduces two key features:

  1. Verification of the payment recipient – the system will check whether the name of the recipient matches the entered IBAN number.
  2. Customizable payment limits – users can set their own maximum amounts per transaction or per day.

These features aim to reduce the risk of mistaken or fraudulent payments. Users will be warned if there is a discrepancy between the entered name and the IBAN, but the final decision to proceed will remain with the sender.

As explained by the Slovenian Banking Association, the system will return one of five possible responses: Match, Partial match, No match, Verification not available (if the recipient’s bank does not yet support the service), or Service unavailable (if there are temporary system issues). The feature is informational only and does not automatically block payments.

Banks are advising customers to take advantage of the new limit-setting options as an extra layer of protection. Limits can be adjusted at any time, providing flexibility and safety against potential fraud.

Another improvement is that users will now receive confirmation when the recipient’s bank account has received the funds, increasing transparency and trust in digital transactions.

This EU-wide initiative covers all euro-area countries, as well as Norway, Iceland, and Liechtenstein. For other EEA states that do not use the euro, a transition period will apply until mid-2027.

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