Since last month i instant transfers – or those that allow the transfer of sums up to 100,000 euros in 10 seconds And that can be made 24 hours a day and 7 days a week – they cannot have extra commissions compared to ordinary wire transfers, all banks are obliged to receive them and can also be used to make payments to the Public Administration. From the 9 October 2025Then, the obligation for credit institutions will be triggered to offer the instant bank transfer service to its customers, in order to facilitate their expansion. A little aware use of instant transfers (which compared to ordinary ones they cannot be canceled In case of erroneous payments), however, it requires a certain awareness from users who decide to use them. Let’s see, therefore, more in detail how instant transfers work and what risks entail.
What is an instant bank transfer and what characteristics has
The instant bank transfer It is a type of bank transfer that allows you to Moving money between two accounts in a maximum time of 10 seconds. Unlike “traditional” transfers, which require up to three working days to be completed, This mode is operational 24 hours a day, 365 days a year. This means that immediate payments can also be made on weekends, during the holidays or outside the banking hours.
To work, both banks involved in the transaction must join the circuit dedicated to instant bank transfer, which guarantees the immediate transfer of funds thanks to an advanced technological platform. The Maximum transferable limit depends on the bankwith amounts that vary from 15,000 to 100,000 euros depending on the institute.
How much instant transfers cost
Until recently, instant transfers provided for commissions generally higher than ordinary ones. However, the new European regulation entered into force on January 9, 2025 establishes that The cost of an instant bank transfer cannot exceed that of an ordinary transfer. This means that banks are obliged to eliminate any surcharges for this type of service.
Despite this, some banks could react by adapting the rates of ordinary transfers, thus indirectly increasing the overall cost that their account holders must bear. This scenario could, at least potentially, penalize those who do not frequently use instant transfers.
How to cancel an instant bank transfer
In using instant transfers, attention must be paid to a fact: cancel them is in fact impossible. Once the transfer has been completed, the money is immediately credited to the recipient’s account, making the bank difficult to block the operation difficult. This aspect represents one of the main differences compared to ordinary transfers, for which the anti -theft departments of the banks can intervene more easily before the “final” accreditation.
In the event that it is necessary to recover an amount sent by mistake, it is possible to request a refund by contacting the beneficiary bank directly or the recipient itself. However, the recovery of money is subject to the consent of the beneficiary. In the absence of collaboration, the only way that can be traveled is the legal one, which can be long and, as we well know, even somewhat expensive.
What to do in case of scam made with instant bank transfer
The speed of instant transfers, if on the one hand it is an advantage, on the other it can prove to be problematic in case of scams. As already mentioned, once the funds are transferred, the intervention time of the banks is almost null, making money recovery extremely complex. Even if you have evident evidence of the scam and the incident to the competent authorities are reported, the recovery of the funds remains uncertain without the “collaboration” of the scammer, which is why instant transfers are a payment method sometimes used by IT criminals.
For protect yourself from any scams made with instant bank transfer as a means of paymentit is essential to carefully check the beneficiary’s data Before to make the transfer. It is also important be wary of urgent or unusual payment requestswhich could hide probable fraud attempts.
If, unfortunately, you have already undergone a scam which took place with the instant bank transfer, we suggest you contact your bank immediately and, even more important, of denounce the incident to the authorities (Like the postal police), so as to decide what to do with the latter.
