Instant transfers appeared in 2017 and were gradually implemented within banking establishments. However, additional fees had to be paid to be able to send money without having to wait a few days for the money to actually be transferred. Some exceptions nevertheless existed, among certain online banks or La Banque Postale, for example.
A bygone period, since the Council of the European Union and the European Parliament have made the operation free of charge obligatory. A measure that will apply in three days, i.e. January 9. This democratization is unfortunately accompanied by some risks, pointed out by cybersecurity experts.
Irrevocability, the Achilles heel of lightning transactions
The instantaneous nature of these transfers, which represents their main advantage, is actually their greatest weakness. The Signal-Arnaques platform, in a publication dated January 2 on X, warns of the impossibility of recovering funds once the transfer has been made (see below).
Instant transfers will become free and that’s good news… but don’t use them systematically!
Instant transfer makes it impossible to recall funds in the event of a problem. 🔽— Signal-Arnaques (@SignalArnaques) January 2, 2025
Clément Bourgeois, expert at the Banque de France, specifies in an interview given to Signal-Arnaques this summer that “ the instantaneity of payments requires additional security “. Indeed, as soon as a transfer is issued to an account, recovery of funds becomes practically impossible.
If the latter is a fraudulent account (account created using false identities, compromised account or dedicated to money laundering for example), it is very problematic. In addition, these accounts are often very difficult to trace, which will further complicate the investigations.
The limited liability of banking establishments
“ Fortunately, my bank can protect me and reimburse me if I have a problem » you might think. Well, it’s more complicated than that and faced with potential handling errors, banks find themselves in a delicate position. According to the directives of the Banque de France, a banking establishment is not obliged to reimburse a customer having made a recipient error during an instant transfer. “ In fact, the bank is required to execute transfer orders according to the information you provide. This means that liability is only incurred in the event of an entry error or technical error. » explains the BDF.
Where your bank can act, this is in the event of a dispute : it will provide all the information necessary to take legal action. To be sure you don’t have to come to this, prefer to use instant transfer to destination accounts you know : friends or family members. If you wish to make a purchase and before making a transfer, always ensure the identity and bank details of the recipient. Above all, be wary of pressing requests or overly tempting offers. For large sums, choose traditional transfers or payments by PayPal, this will avoid any unpleasant surprises.
- Instant transfers, free from January 9, are irreversible, increasing the risks in the event of fraud.
- Banks do not reimburse recipient errors, except in cases of proven technical error.
- To avoid scams, always verify the identity of the beneficiary and limit instant transfers to people you trust.
