A new European Union regulation mandates that instant bank transfers will be free across the eurozone by January 2025. Banks, which previously charged around one euro for these services, are now required to offer transfers that are processed in less than ten seconds at no additional cost. This regulation aims to enhance competition among European payment services and combat payment fraud, ensuring instant transfers are accessible every day of the year. It also extends to cross-border EU transactions, previously subject to variable fees and delays.