Overview

• From October 9, euro‑area banks must let customers send SEPA instant transfers within seconds at any time, with fees no higher than standard transfers.
• An automatic Verification of Payee runs before release on SEPA and SEPA‑instant payments, delivering green, yellow or red results within seconds across online banking, ATMs and branches.
• Banks are generally liable only when the check confirms a match, while authorizing a payment after a yellow or red warning places responsibility on the customer.
• Existing standing orders continue without new checks, certain bulk payers can opt out such as the Deutsche Rentenversicherung for pensions, and paper drop‑box forms are not checked automatically.
• Some institutions activated the checks early, prompting customer confusion and inquiries, and consumer groups urge verifying beneficiary details and contacting payees if warnings appear.