The EU’s new instant payment regulation came into effect on October 9, 2025. As a result, all euro-area payments are now processed within seconds – even during evenings and weekends. The regulation aims to improve the speed and security of payments.
Recipient Verification Adds Security
A key part of the reform is the automatic verification of the recipient’s name and account number. If the details don’t match, your online bank may display a warning. This is not a scam – it’s an opportunity to pause, check, and correct the payment information if needed.
How to Ensure Your Payment Goes Through
Always use Koas’s official name as the payment recipient:
· Keski-Suomen opiskelija-asuntosäätiö sr
· Central Finland Student Housing Foundation sr
If the full name doesn’t fit in the recipient field, enter as much of the beginning of the name as possible. Always start with the official name – do not use abbreviations or extra spaces.
Even if the name isn’t an exact match, the payment can still be processed. However, a warning may still appear.
Important Things to Check
· Koas’s bank account number has not changed.
· Make sure the payment details you’ve entered in your online bank are correct.
· Also review any pre-saved payment information in your online bank.
Note that the payments are still delivered by bank account number as they have been this far.