Free, European regulations, dates… what’s changing for instant transfers this week

Faire un virement, instantanément et gratuitement, cela va désormais être possible. On vous explique.

There are many ways to send money, but instant transfers are increasingly used. But until now, this maneuver had a cost: 1 euro. However, France must comply with European regulations, starting this week. Midi Libre takes stock of what is really changing.

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Free

According to a study by the Banque de France, “the number of instant payments exploded between 2022 and 2023, increasing by 84%”, indicates France Bleu. It is true that this means of money transfer is increasingly used, and from this Thursday, January 9, the French will be able to benefit from it differently.

At the moment, an instant transfer generally cost 1 euro to the person sending the money, and was generally free for classic transfers, which require a delay of a day or two. But after the adoption of a text concerning the European regulation relating to instant transfers, France must comply with this new measure imposed by Brussels, explains Le Parisien.

Thus, the banks of the Hexagon have until Wednesday evening to offer all their customers (individuals or companies) this service free of charge, every day of the year and at any time. Only “banks that do not yet offer this option will have to implement it free of charge by October 9 at the latest. In countries that have not adopted the single currency, banks will benefit from an additional period until 2027”, specifies the local media.

A revolution

It should be noted that transfers can also be made between European countries. This new feature is seen as a real change for the economy. “Instant transfers could accelerate their development, driven by regulatory factors and new offers”, underlines the Banque de France.

In addition to being seen as an “interesting alternative to traditional transfers”, instant transfers aim to “simplify cash management”. “Conversely, the use of cash and checks is logically tending to decrease”, notes the Banque de France.