Regulatory Alerts2025-01-30
Added · Updated
Instruction (Historical) No. 2/2025
The Banco de Portugal amends Instruction No. 8/2018 (SICOI Regulation) to prohibit payment service providers from charging fees for the Single Payer Confirmation (CoPS) and Grouped Payer/Debtor Confirmation (CoPB) functionalities. This change ensures compliance with EU Regulation 2024/886, which mandates that beneficiary verification services be provided free of charge to all payment service users. The instruction enters into force on the date of its publication.
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