Instant wire transfers eliminate interbank delays and allow you to complete a wire transfer in under ten seconds, at any time. This quick and convenient service has been free in France since January 9, 2025. But why have instant wire transfers become free? Is there a transfer limit? What are the benefits and the risks of instant wire transfers? This article answers some of the most frequently asked questions about this type of transaction.

What’s in this article?

• What is an instant wire transfer?
  
• When did instant wire transfers become free?
  
• What is the objective of making instant wire transfers free?
  
• What is the maximum amount for instant wire transfers?
  
• What are the benefits of instant wire transfers?
  
• What are the risks of instant wire transfers?
  

What is an instant wire transfer?

An instant wire transfer, or instant payment, allows you to send money in real time between bank accounts in the Single Euro Payments Area (SEPA) zone, which includes all EU member countries, as well as Iceland, Norway, Liechtenstein, Switzerland, the United Kingdom (UK), Vatican City, Andorra, Monaco, and San Marino.

Instant wire transfers take virtually no processing time—the recipient gets the money in under ten seconds. You can make such transfers using a computer, tablet, or smartphone at any time, day or night, including on weekends and public holidays. Until recently, instant wire transfers incurred a fee, with banks typically charging about €1 per transfer.

When did instant wire transfers become free?

Since January 9, 2025, traditional and online banks in France have been offering instant wire transfers free of charge. This stems from a regulation of the European Parliament and the EU Council that prohibits charging more for instant wire transfers than for regular wire transfers, which most banks in France already offer for free online.

To comply with this regulation, banks and payment service providers are required to offer consumers the option of making payments by instant transfer free of charge.

What is the objective of making instant wire transfers free?

Making instant wire transfers free of charge aims to:

• Promote the use of wire transfers by making them more accessible to all
  
• Boost the independence of Europe’s economic and financial system by reducing reliance on US payment networks such as Visa and Mastercard
  
• Make it easier to transfer euros within the European Economic Area (EEA)
  

What is the maximum amount for instant wire transfers?

The European Central Bank (ECB) sets a €100,000 limit for instant wire transfers, but some banks might impose a lower limit. To find out what your instant wire transfer limit is, refer to your bank account agreement or contact your bank. Transfers that exceed the limit might not go through.

What are the benefits of instant wire transfers?

Instant wire transfers offer European customers the following benefits:

• Free service
  
• Ease of use
  
• Secure transfer of funds
  
• Guaranteed instant delivery for both sender and recipient
  

What are the risks of instant wire transfers?

Faster transfers come with risks, particularly in terms of security.

Higher risk of fraud

Because these wire transfers are completed instantly, banks can’t verify the legitimacy of the transaction or the identity of the recipient. You should be mindful before making a transfer and carefully check the recipient’s information, including their International Bank Account Number (IBAN) and name, along with the transfer amount.

Find out how to check an IBAN and reduce both information entry errors and the risk of fraud.

Irreversible transactions

Instant wire transfers are irreversible. Once initiated, the operation can’t be canceled—the funds can’t be retrieved, even if the sender suspects fraud or if an error was made; this is in contrast to standard transfers, which can be canceled before the money is received. That’s why it’s best to restrict the use of instant wire transfers to family and friends, and to make standard transfers for large amounts or for payments to strangers.

You can also use Stripe Payments, an all-in-one payment service that boosts business conversion rates and cuts down on fraud using advanced AI algorithms.