Instruction No. 9/2025

Instruction No. 9/2025 BO No. 6/2025 Supplement • 2025/06/26 .................................................................................................................................................................................................. Topics Payment Systems :: Clearing Mod. 99999940/T – 01/14 Index Text of the Instruction Text of the Instruction Subject: Amending Instruction No. 8/2018 In 2022, the Bank of Portugal began developing an additional service in the Interbank Clearing System (SICOI), with the functionalities of identifier for account derivation and beneficiary/payer confirmation (PLCP service). The terms for making this service available are established in Bank of Portugal Instruction No. 8/2018, of March 22 (SICOI Regulation), which regulates the following three functionalities: • Identifier for account derivation (PL, from the English Proxy Lookup, to which the designation SPIN was assigned) – allows initiating transfers, credit and instant, through a user identifier, instead of typing the IBAN; • Single beneficiary confirmation (CoPS, from the English Confirmation of Payee Single) – allows confirming information about the beneficiary of a credit and instant transfer, returning the name of the first holder of the payment account associated with the indicated IBAN; • Bulk beneficiary/payer confirmation (CoPB, from the English Confirmation of Payee/Payer Bulk) – allows confirming the ownership of one (or more) payment account(s) through the validation of NIF/IBAN or NIPC/IBAN pair(s) for credit and instant transfers, and direct debits, initiated in a bulk manner. The availability of the CoPS and CoPB functionalities occurred on May 20, 2024, and SPIN was launched on June 24, 2024. In September 2024, the Bank of Portugal created a User Group, composed of representatives from all payment service providers (PSPs) adhering to the service, to monitor its operation and discuss its evolution. In this context, interest was expressed in expanding to additional identifiers for initiating operations in the SPIN functionality by individual users: the tax identification number (NIF).

Instruction No. 9/2025 BO No. 6/2025 Supplement • 2025/06/26 Topics Payment Systems :: Clearing .................................................................................................................................................................................................. Mod. 99999940/T – 01/14 With the alteration now promoted, the NIF will serve, alongside the mobile number, as a "user identifier," allowing users to receive transfers through the SPIN functionality in two accounts (in one account, associating the mobile number, and in another account, associating the NIF). Thus, the limitation that only one account can, at any given time, receive transfers through the SPIN functionality is overcome, since, at any given time, each "user identifier" (in the current case, only the mobile number, for individuals) can only be associated with one account. Thus, under the competence attributed to it by Article 14 of its Organic Law, and by Article 92 of the General Regime of Credit Institutions and Financial Companies (RGICSF), the Bank of Portugal amends the articles of Instruction No. 8/2018 – SICOI Regulation –, determining the following:

1. In Annex IX of Instruction No. 8/2018, of March 22, points 2.1., 2.2. and 2.3. shall have the following wording: «2.1. The PL functionality allows the initiation of payment operations by indicating one of the "user identifiers" provided for in the Service Manual for Identifier for Account Derivation and Beneficiary/Payer Confirmation. 2.2. The availability of the PL functionality is based on a database, managed by the Bank of Portugal, which contains the associations between the "user identifiers" and the respective "payment account identifier" – the International Bank Account Number (IBAN). 2.3. Within the scope of the PL functionality, participants must communicate to the Bank of Portugal, upon the user's request, the following information: a) Regarding individuals: the "user identifier" they wish to associate, the Tax Identification Number (NIF) and the IBAN of the payment account ("payment account identifier"). b) Regarding legal entities: the "user identifier" they wish to associate and the IBAN of the payment account ("payment account identifier").»
2. In Annex IX of Instruction No. 8/2018, of March 22, points 3.2., 3.3. and 3.4. shall have the following wording: «3.2. Participants must allow payment service users to associate their "user identifiers" with their respective "payment account identifier", at minimum, through remote electronic channels in which SEPA credit transfers or SEPA instant transfers are made available, excluding applications operated by third parties. 3.3. Participants must ensure that, in the same channels where association is permitted under point 3.2., payment service users can

Instruction No. 9/2025 BO No. 6/2025 Supplement • 2025/06/26 Topics Payment Systems :: Clearing .................................................................................................................................................................................................. Mod. 99999940/T – 01/14 consult, at all times, whether their "user identifiers" are associated with their respective "payment account identifier". «3.4. The association between the "user identifiers" and the "payment account identifier" and its consultation may only be requested by the participant where the payment account that the payment service user wishes to associate or consult is domiciled.» 3. In Annex IX of Instruction No. 8/2018, of March 22, point 6.3. shall have the following wording: «6.3. The "user identifiers" of individuals shall be the same as those registered and certified with the participant for interaction with the payment service user. If the "user identifier" is the mobile number, it must be registered and certified for the purposes of strong customer authentication, as provided for in the Legal Regime of Payment Services and Electronic Money (RJSPME), approved in annex to Decree-Law No. 91/2018, of November 12.» 4. The provisions contained in this Instruction shall be applicable from June 2, 2025.