SEPA Instant Progress, or the lack of it...

Received this afternoon from AIB, seems they’ll be supporting outbound SEPA Instant payments from the 25th August.

“Since January 2025, you have been able to receive instant payments to your payment account. This means your balance is updated straight away when someone sends you an instant payment. From 25 August 2025, we'll start to roll out the ability to send instant payments from your account. These payments will reach the receiving account within 10 seconds. We will let you know when these become available through our online services and on our website.”
 
EBS (as part of AIB) following suit on the same day:
https://www.ebs.ie/terms-and-conditions-updates
Since January 2025, you’ve been receiving payments instantly to your account. This means your balance is updated straight away.

From 25 August 2025, we’ll start to roll out payments you can send instantly from your account. These payments will reach whoever you are paying within 10 seconds. We will let you know when these become available through our website.

We’re also introducing a new check called ‘Verification of Payee’ from 5 October 2025 for all SEPA payments. This helps protect your money. Verification of Payee will check the name of the account you’re paying with the receiving bank to see if it matches the name you gave us. You can then decide if you still want to go ahead with the payment.

You’ll also be able to set limits on how much money you send through instant payments each day.
Click to expand...
 
Revolut style payments is a bit of a misnomer. My first thought was "who would want to only be able to send payments to other credit union members?" since that's how revolut worked before SEPA Instant
 
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