The European Banking Authority (EBA) has released its final draft Implementing Technical Standards (ITS) for reporting credit transfer charges, payment accounts, and rejected transactions, in line with the Instant Payment Regulation (IPR) amending the SEPA Regulation.
Key Highlights:
Standardized Reporting – Ensures uniform data collection across banks, payment institutions, and e-money providers.
Consumer Protection – Guarantees that instant credit transfers are not more expensive than regular transfers.
Deadline Extension – First harmonized reporting postponed from April 2025 to April 2026 to ease compliance burden.
The new ITS will help National Competent Authorities (NCAs) monitor financial institutions’ adherence to SEPA pricing rules, while also supporting the European Commission’s oversight of instant payment accessibility.
Until the new reporting framework is implemented, NCAs are advised not to enforce reporting requirements in 2025 to prevent inconsistent data collection.