Overview

• Customers will see a result within seconds, typically via a green, yellow or red indicator that allows them to cancel before the transfer executes.
• Banks report technical readiness and the check will be free to use across mobile apps, desktop banking and in-branch counter transactions.
• Many institutions will accept liability when an exact match is confirmed, while customers generally assume the risk if they proceed after a warning or mismatch.
• The rollout begins in the euro payment area and is scheduled to extend EU‑wide by July 9, 2027, with the UK and Switzerland not participating.
• The measure applies to payment accounts and to new or modified standing orders, excludes savings, credit and fixed‑term accounts, and may not run on transfers to non‑participating jurisdictions or during technical issues.