Changes in SEPA Payments: New Limits for Instant Payments

Starting from October 9, 2025, new obligations for banks and payment service providers will come into effect under Regulation (EU) 2024/886 on Instant Credit Transfers in Euro, also known as the Instant Payments Regulation (IPR). The Regulation requires that all payment service providers offering regular euro transfers (SEPA Credit Transfer – SCT) must also provide instant payments (SEPA Instant Credit Transfer – SCT Inst). These instant payments will need to be available at all times –24 hours a day, 365 days a year, including public holidays. In addition, the cost of instant payments may not exceed the cost of standard euro transfers.

What changes for Magnetiq Bank clients

In connection with the implementation of the Regulation, Magnetiq Bank is introducing a new feature: clients will be able to set individual limits for their instant payments – both per transaction and for the daily total amount (daily limit). The Bank’s established device limits for document signing will remain in effect without changes.

How it will work

By default, the limit will be set at EUR 15,000 per instant payment for individuals and EUR 100,000 for legal entities. No default daily limit will be applied. The daily limit resets at the end of the Bank’s operational day (around 20:00 Riga time).

Clients can change these limits at any time – 24/7/365 – through the internet bank under Profile → Limits, depending on their needs. The Bank reserves the right to impose restrictions (including limits) on instant payments for compliance reasons.

Limits can also be set or changed by contacting the Bank’s support in writing (by email or via the internet bank), by phone, or by speaking with your manager if you are unable to access the internet bank for any reason.

Why this is useful

These changes provide clients with greater flexibility, allowing you to choose the amount you are willing to transfer instantly per payment or per day. They also enhance security by giving you the option to set lower limits if you are concerned about fraud or want to minimize risks.

What you need to do

If you want to change your per-transaction or daily limit, log in to the internet bank, go to Profile → Limits, and set the desired amount.

If you prefer to set the limits with the Bank’s help, contact our support in writing (email or internet bank), by phone, or speak with your manager, we will guide you and help you set the limits.

If you do not take any action, the default limits will apply: EUR 15,000 for individuals and EUR 100,000 for legal entities per instant payment.

Additional information

If you have questions about the new Regulation, the instant payment service, or setting limits, please contact the Bank’s support team or your manager.

If you agree with the changes, no action is required – they will take effect on October 9, 2025.

If you do not agree with the changes, you have the right to terminate, free of charge and with immediate effect, any service agreements affected by these changes. To do so, please notify us in writing no later than October 9, 2025, and fulfill your obligations under those service agreements.