FAQs about EBS Terms and Conditions updates

The Single Euro Payment Area (‘SEPA’) is an initiative to simplify euro payments across the European Union and several other European countries.

With a SEPA Instant payment (or instant payment) payments are processed within seconds, 24 hours a day, 7 days a week.

From 25 August 2025, we’ll start to roll out the ability to send SEPA Instant payments from your account.

We will let you know when these become available on our website and in EBS Offices.

Yes, you can send SEPA Instant payments at any time on any day, including weekends and bank holidays.

There are a few exceptions to this, such as times when the system is undergoing maintenance.

No.

The following EBS accounts are able to receive SEPA Instant payments:

• Moneymanager
• Instant Access
• Teen Savings

The following EBS accounts are able to send SEPA Instant payments:

• Moneymanager
• Instant Access

Outgoing SEPA Instant payments are new. Whenever we introduce a new feature or something different, we change our terms and conditions to let you know about these changes.

You can read the terms and conditions on our website.

If you don't want to accept the changes to our terms and conditions, you have the option free of charge to close your account, clearing anything you owe on it first, or let us know you are ending your agreement with us. You can do this by writing to your local office.

With the introduction of SEPA Instant for outgoing payments you will now be able to manage your own daily or transaction limit.

You can apply these limits to SEPA Instant payments only, we will let you know when these become available on our website and in our EBS Offices.

No, it's a service that's available if you need it.

It's a new check being introduced to help you protect your money.

With ‘Verification of Payee’ we check the name of who you’re sending a SEPA payment to before you send it. We'll ask you to confirm if you want to continue. This helps you make sure your money is going to the right person or business.

VoP will be available from 5 October.

Before you make a SEPA payment or save a payee, we'll check if the payee name you provide matches the name associated with the IBAN held by the receiving bank.

You will receive one of four results:

• Match
• Details do not match
• Close match
• Match not possible

You must review the results of the check carefully before deciding if you want to continue making the payment or saving/amending the payee.

For incoming payments to your account, we must similarly help the payer verify your name, and may share information on your account name with them and their bank for that purpose.

The name and IBAN of the person or business you want to pay fully matches that which their bank holds for that IBAN.

The name of the person or business you want to pay does not match the name at their bank for that IBAN.

Please check the result before deciding if you want to go ahead with the payment or saving/amend the payee.

We recommend you double-check the details with the payee and only go ahead when you're sure they're correct and trustworthy.

Using unconfirmed payee details means you could send money to the wrong account or be at risk of being scammed. We may not be able to recover your money if that happens.

The name of the person or business you want to pay does not fully match the name at their bank for that IBAN e.g. "Joe Bloggs" shown as "J. Bloggs".

We'll show you the name on the payee's account as confirmed to us by their bank.

Please check the result before deciding if you want to go ahead with the payment/saving the payee using the name you originally provided, or if you want, you can update the payee name on EBS Online Banking (Your Accounts Online).

This means we can't check the name of the person you want to pay. This could be because the account intended to receive the payment is closed, it's not a payment account, or there has been a technical fault.

Please check the result before deciding if you want to go ahead with the payment or saving the Payee.

We recommend you double-check the details with the payee and only go ahead with a payment when you're sure their details are correct and trustworthy.

Using unconfirmed payee details means that you could send money to the wrong account or be at risk of being scammed. We may not be able to recover your money if that happens.

If you're in any doubt, we would recommend that you don't continue.

No, while VoP will be an additional step in certain payments, it won't affect the time taken to send a payment once you have approved it.