SEPA Instant and Regulation 76 Update
We would like to inform all of our Members of important updates regarding the operation of your account with Comhar Linn INTO Credit Union, including enhancements to our payment services and updates to your framework contract under Regulation 76 of the European Union (Payment Services) Regulations 2018.
What’s Changing?
- Framework Contract Update: In line with Regulation 76, we have updated the information we provide about your account and our payment services. These updates clarify your rights and obligations and reflect our ongoing commitment to transparency and compliance.
- Introduction of SEPA Instant Payments: Starting in 2025, we are introducing SEPA Instant — a new payment scheme that allows you to send and receive euro payments in under 10 seconds, 24/7, 365 days a year. This means:
- Faster Payments: No more waiting for business hours or banking days.
- Instant Access: Instant access to funds, whether you're sending or receiving.
- More Efficient: A faster, more efficient way to manage your money.
- We’ll keep you updated: We will let you know exactly when these become available through our online services and our website.
What You Need to Know:
- Review the Updated Framework Contract: Available on our website.
- Familiarize yourself with how SEPA Instant: View Booklet here for more information. Learn how it works and how it can benefit you.
Next Steps
- No Action Required: To accept these changes, you do not need to do anything, and you can continue to use your account as normal.
- Option to Close Your Account: If you do not want to accept these changes, you have the option to close your account. If we do not hear from you within 2 calendar months of this communication, these changes will apply to your account.
Support
If you have any questions or need assistance, our team is here to help.
Thank you for your continued trust in Comhar Linn INTO Credit Union.
Warm regards,
Comhar Linn INTO CU
