IPR Definition.

Instant Payments Regulation, Regulation (EU) 2024/886: makes instant credit transfers universal in the euro area. Banks must be able to receive them since January 9, 2025, and to send them since October 9, 2025. Pricing is capped at the price of a standard transfer, verification of payee (VoP) is mandatory, and sanctions screening runs daily rather than per transaction. Countries outside the euro area follow on later deadlines (2027).

See also

→ SCT Inst→ Verification of Payee (VoP)→ Instant credit transfer

Where this term appears

GuideCentral banks and payment infrastructuresGuidePayments in Central and Eastern EuropeGuidePayments in FranceGuidePayments in the Nordic countriesGuidePayments in TurkeyGuidePayments in ArgentinaGuidePayments in CanadaGuidePayments in Central AsiaGuidePayments in South KoreaGuidePayments in JapanGuidePayments in Japan and KoreaGuidePayments in Malaysia and Singapore

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