Banking: instant transfers will experience their biggest revolution in 2025

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The year 2025 starts with excellent news for French bank customers. No more fees of one euro or more to send money in a few seconds. Instant transfers become completely free when done online or via a mobile banking application. This free service, imposed by the European Union, marks a major turning point in the history of banking services in France.

A European decision that is shaking up banking habits

The Council of the European Union and the European Parliament made their decision in 2024. Banks are no longer allowed to charge additional fees for instant transfers compared to traditional transfers. This revision of the European regulation on bank transfers completely changes the situation. In France, since traditional transfers are free online, instant transfers must follow the same pricing logic.

This new regulation primarily affects the eurozone. French banking institutions have until January 9, 2025 to comply. The majority of them have already taken the step as of January 1, integrating these changes into their new pricing structures.

A considerable impact for consumers and businesses

The end of fees on instant transfers represents a significant saving for regular users. Until 2024, almost all French banks charged around one euro per transaction. Only a few establishments, such as La Banque Postale or Crédit Mutuel de Bretagne, already offered this service free of charge, sometimes with restrictive conditions.

This general free service will considerably change payment habits. Individuals can now instantly reimburse a friend at a restaurant without worrying about fees. Companies, for their part, gain flexibility for their cash flow. Urgent payments are no longer financially penalized. This development could even accelerate the adoption of instant transfers as an alternative to checks or cash.

A gradual deployment on a European scale

The transformation does not stop at the borders of France. The entire European Union will gradually switch to this new model. The countries of the eurozone will lead the way from January 2025. The other Member States will follow a more staggered schedule. They have until January 9, 2027 for transfers in euros, and until June 9, 2028 for transfers in their national currencies.

This harmonization of banking practices extends even beyond the EU. Norway, Iceland and Liechtenstein, members of the European Economic Area, will also have to apply these new rules. This geographical extension reinforces the impact of the reform and facilitates financial exchanges on a continental scale.

• Instant transfers will become free online for all French bank customers from January 2025
• This free service is the result of a European decision prohibiting charging more for instant transfers than for traditional transfers
• The deployment will gradually extend to the entire European Union and the European Economic Area by 2028

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