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Account-to-Account payments

Account-to-account payments (bank transfers) are a quick and easy way to transfer money directly from one bank account to another, either within the Netherlands or to and from other countries.

Recent developments in society

  • Bank transfers are a widely used and trusted payment method, despite the steady increase in card and crypto payments.
  • Instant Payments are lightning-fast euro transfers that have been the ‘new normal’ in the Netherlands since 2019. Under the European Instant Payments Regulation (IPR), banks have been required to offer Instant Payments without surcharges since 2025.
  • For older people and those who are unable or unwilling to bank using digital methods, traditional bank transfers remain important, with paper transfers sent by mail.

Role of the Dutch Payments Association

  • The Dutch Payments Association brings banks and other payment service providers together to ensure that transfers run smoothly, reliably, and securely.
  • We monitor and manage joint agreements on standards, processes, and innovations for account-to-account transfers.
  • We follow market developments and facilitate cooperation between banks and other payment service providers.

Our vision for the future

  • The Dutch Payments Association remains committed to inclusive and accessible account-to-account payments. Everyone should be able to transfer money easily, quickly, and reliably, in a way that suits their situation.
  • We are working with our members to build even more confidence in transfers, with greater transparency through clear information and smart innovations.
  • We follow European developments, for example regarding instant payments and Verification of Payee, and we help Dutch participants in account-to-account payments to interpret these developments correctly and to align themselves with them.

Facts and figures

  • €625billion In 2024, 499 million instant payments were processed, with a total transaction value of €625 billion.
    In 2024, 499 million instant payments were processed, with a total transaction value of €625 billion.
  • €360billion The number of SEPA direct debits reached 2.01 billion transactions in 2024, together accounting for €360 billion.
    The number of SEPA direct debits reached 2.01 billion transactions in 2024, together accounting for €360 billion.
  • 2.5billion Instant Payments and SEPA direct debits together accounted for more than 2.5 billion account-to-account transactions in 2024.
    Instant Payments and SEPA direct debits together accounted for more than 2.5 billion account-to-account transactions in 2024.

Latest news

  • Payment accounts: what to look out for when choosing?

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    • Account-to-Account payments
    Gepubliceerd op:
    Choosing a current account is an important decision, both for consumers and business owners. What is on offer and how can you choose? Below, we list the main points of interest and options to consider. 1. Different types of current account providers In the Netherlands, you can turn to…

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Frequently asked questions

  • What is a European credit transfer (SEPA Credit Transfer)?

    A European credit transfer is a payment in euros between IBAN accounts within the SEPA area. Most banks offer this service via online banking, mobile apps, or transfer forms.

  • What happens if I enter the wrong account number when making a transfer?

    If you transfer money to the wrong IBAN, the money will go to the account holder of that IBAN. First, request a refund by sending a message in a second transfer of 1 euro cent to the same IBAN. If the recipient does not respond, you can ask your own bank about the Procedure for Undue Payments. Under certain conditions, this allows your bank to ask the recipient of the payment to refund the amount. If the recipient does not respond within three weeks, your bank may provide you with the recipient’s name and address details. You can then try to recover the amount from the recipient through a bailiff.

  • What are Instant Payments?

    Instant Payments are direct transfers where the amount is credited to the recipient’s account within seconds, around the clock and every day of the year, even between different banks and to other EU countries.

  • What should I do if I am a victim of transfer fraud?

    Contact your bank immediately. They can advise you on the steps to take and may launch an investigation.

  • What is the Procedure for Reversal Entries?

    The Procedure for Reversal Entries is intended for situations in which a bank has accidentally executed an incorrect or duplicate transfer, for example due to a technical malfunction. In that case, the bank can use this procedure to transfer the amount back to the original account. This only happens if it is clear that the error lies with the bank and not with the account holder.

     

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Let's shape the future of payments together

Join the network of payment service providers working together to create a secure, reliable, accessible, and efficient payment ecosystem in the Netherlands.

  • Access to up-to-date knowledge and developments in payments
  • Influence on policy and standards in the Netherlands and Europe
  • Representing the sector to stakeholders
  • Part of the Dutch payment ecosystem