We want to inform you of important updates to your Framework Contract under Regulation 76 of the European Union (Payment Services) Regulations 2018. These changes take effect from 6th October 2025 and reflect the introduction of SEPA Instant Credit Transfers and enhancements to our payment services.

What’s Changing?

You’ll be able to send and receive euro payments instantly across SEPA-participating institutions including:

  • Instant Euro Transfers: Real-time payments across participating European banks.
  • Always Available: No more waiting—payments available anytime, even outside business hours.
  • Simple Access: Use your existing online banking or mobile app. Just choose “Instant Transfer” when sending euros, or you can go into your Credit Union office during their opening hours.

What stays the same? 

  • Your account number and login details remain the same.
  • Your existing payment options will not change.
  • Our commitment to a secure, reliable service.

What This Means for You

  • Real-Time Transfers: No cut-off times—payments are processed immediately.
  • Transaction Limits: You can set your own SEPA Instant limits online or in-office, within the maximum limits set by the Credit Union.
  • Security: Enhanced fraud prevention and Verification of Payee measures are in place.
  • Error Handling: If a transaction fails, your account will be restored immediately. If it later succeeds, we may debit your account accordingly.

How to accept the Changes

Your framework contract is valid up to 5th of October 2025 and the new Framework Contract is effective from 6th October 2025.

You do not need to take any action to accept these changes. By continuing to use your account and our services after the changes take effect, you will be considered to have accepted them.

If you do not wish to accept the changes, you have the right to close your account or end your agreement with us free of charge, provided that any outstanding balances or fees have been cleared. You can do this by writing to our office or contacting us through our usual service channel.

Further Information

The full revised Regulation 76 Information is available as a digital version here and in our office. If you have any queries on the details contained within this newsletter, please do not hesitate to contact us.

We appreciate your continued membership and look forward to providing you with faster and more secure payment services.