We’re making some changes to our payment services which will make transferring payments within the EU faster and even more secure. To prepare for these changes we are updating our Terms and Conditions which will become effective on 23 September 2025.
Since January 2025, you have been able to receive incoming SEPA Instant Credit Transfers to your payment account. From 09 October 2025, you’ll also be able to send outgoing SEPA Instant Credit Transfers from your PTSB payment account. This means you can send euro payments to payment accounts within 10 seconds, every day of the year.
This is a new security check used by banks and payment service providers to verify the payee’s name you provide matches the payee’s name held with their bank or payments service provider (PSP). Verification of Payee will be applicable to both existing and newly created incoming and outgoing SEPA Credit Transfers and SEPA Instant Credit Transfers.
Learn more infomation on SEPA Instant Credit Transfers and Verification of Payee, and how they apply to you.
