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Paying with a bank transfer in just a few seconds can be incredibly convenient. It's not only helpful for paying that forgotten bill just in time to avoid fines but also for splitting bills at a restaurant, during a flea market, and more.
Here's how an instant bank transfer works:
The name already reveals a lot. An instant transfer (also called an Instant Payment) is a transfer that is processed immediately, 24 hours a day, 7 days a week. That includes nights, public holidays, and weekends. The money appears within seconds in the beneficiary’s account, even if the sender has an account with a different bank.
An instant bank transfer is super useful in various situations. Here's what you can do:
Yes, instant bank transfers are processed at any time of the day, 24/7, including nights, holidays, and weekends.
For instance, if you pay your energy bill using an instant bank transfer, the money is in your energy supplier's account within seconds.
Yes, you can use instant bank transfers for both small and larger amounts. However, your bank might set a limit, just like they do for daily limits in mobile banking apps.
An instant payment can never cost more than a standard payment.
No, similar to a classic transfer, the initiation of your payment transaction is irreversible. Your bank will make every effort to recover your money in case of fraud or an error, but this doesn't guarantee success.
In the same way as a standard transfer. For example, using your PC, tablet or smartphone.
All banks that offer payment services are required, starting from October 9, 2025, to offer instant transfers through the same channels in which they offer standard transfers.
No, not every transfer is instant. Standard transfers still exist. An instant transfer is not always necessary.
Each bank remains free to decide how it will offer this to its customers. Some banks will now process everything as instant, while others will still leave the choice to the customer.
Absolutely. Banks do everything they can to protect you against fraud. Instant transfers are just as secure as standard transfers. You can also increase your own safety by never sharing your (response) codes via email, SMS, phone or social media.
No, card payments are processed differently than transfers. With a card payment, confirmation of successful acceptance and execution is given immediately. However, the payment will not always be available to the beneficiary within a few seconds.
Yes, but only between bank accounts held at a bank located within the SEPA zone. Outside SEPA, different rules and processing times apply.
What is the SEPA zone? A unified payment area comprising 40 European countries (including the 27 member states).
Absolutely. Belgium was one of the first European countries where instant transfers were offered by a large number of banks. Belgian banks already implemented instant transfers back in 2019.
Below is a summary of the obligations for banks operating in EU countries where the euro is the currency. For countries where the euro is not the national currency, different deadlines apply.
EU banks are required to receive instant payments (January 9, 2025).
EU banks are required to offer instant payments at the same cost (or lower) as a standard transfer (January 9, 2025).
EU banks are required to make instant payments available to their customers in all channels where a customer can make a standard transfer, including payment files (October 9, 2025).
EU banks are required to implement the Verification of the beneficiary's name (October 9, 2025).
The IPR requires banks to inform customers about the successful or unsuccessful completion of their instant payment. Therefore, if you use instant payments, you will in the future receive notifications from your bank confirming whether the payment was successful or not (unlike today).
Until October 9, a bank could decide, without the explicit consent of the customer, to process an instant payment as a standard transfer if the transaction could not be completed on time. The regulation now prohibits this, which may more often result in cancelled transfers. Your bank will inform you if this occurs.
When entering the beneficiary’s name and account number, the bank will also perform beneficiary name verification in the background and show you the result before you can initiate the transfer.
No, your bank will offer you the option to choose an instant payment. Unless your bank decides to process all payments as instant, in which case you will not have this choice.
Yes, this can happen due to:
Technical failures at your bank or the receiving bank;
Limits on instant payments (for example, a maximum amount per transaction or per day);
Fraud checks, where a payment may be temporarily held for verification.
In these cases, the payment will be cancelled, and your bank will inform you.
Your bank will inform you whether your instant payment was successful or not. If you wish, you can retry the failed instant payment or choose to execute it as a standard transfer.
Yes. Companies can now also have their payment files processed instantly, which means they can be executed on weekends and public holidays. However, the processing time depends on several factors, such as how many instant payments can be processed simultaneously and the volume of interbank exchanges.
You can contact your bank via their customer service or website.
Febelfin and its members expect that the volume of instant payments will gradually increase, at the expense of standard transfers. Banks are also preparing to process larger volumes of instant payments. However, this is a long-term evolutionary process, as it requires investments to increase the capacity of the underlying infrastructure.
In the short to medium term, standard and instant transfers will continue to coexist. This is also necessary to avoid overloading the infrastructure and to ensure smooth payment traffic.