Regulatory Alerts2025-06-26
Added · Updated
Instruction No. 9/2025
The Bank of Portugal amends the SICOI Regulation to allow individuals to associate their Tax Identification Number (NIF) as a user identifier for receiving transfers via the SPIN functionality, in addition to mobile numbers. This change enables a single individual to link two different accounts to SPIN, thereby removing the previous restriction that limited each user identifier to only one account. Payment service providers must update their systems to support NIF associations and ensure users can manage these links through remote electronic channels. These provisions become applicable on June 2, 2025.
Topics
Share