In order to increase the use of instant credit transfers in euros at Union level, the EU legislators have amended Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro (the so-called SEPA Regulation). To that effect, Regulation (EU) 2024/886 of the European Parliament and of the Council of 13 March 2024 as regards instant credit transfers in euro (IPR) was published on 19 March 2023. The IPR entered into force on 8 April 2024 but the date on which the various obligations begin to apply depends on the type and location of the payment service provider (PSP).
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