Regulation 76 Update – SEPA Instant Payments Available from 30th September 2025

Dear Member,

Important updates to your Framework Contract under Regulation 76 of the European Union (Payment Services) Regulations 2018. These changes take effect from 30th  September 2025 and reflect the introduction of SEPA Instant Credit Transfers and enhancements to our payment services.

What’s New?

You’ll be able to send and receive euro payments instantly—24/7/365—across SEPA-participating institutions. These SEPA Instant Credit Transfers are processed within 10 seconds, even on weekends and bank holidays.

What This Means for You

• Real-Time Transfers: No cut-off times—payments are processed immediately.
• Transaction Limits: You can set your own SEPA Instant limits online or in-office, within the maximum limits set by the Credit Union.
• Security: Enhanced fraud prevention and Verification of Payee measures are in place.
• Error Handling: If a transaction fails, your account will be restored immediately. If it later succeeds, we may debit your account accordingly.

Your Rights

If you do not accept these changes, you may terminate your contract by notifying us in writing before the end of the two-month notice period. Otherwise, the changes will take effect automatically.

Further Information

The full revised Regulation 76 Information is available below;

https://eastcoastcu.ie/media/wuch5hbv/regulation-76-information.pdf.

https://eastcoastcu.ie/media/jjjfkksv/sepa-instant-pay-guide.pdf

If you have any queries on the details contained within this letter, please do not hesitate to contact us.  We appreciate your continued membership and look forward to providing you with faster and more secure payment services.