Article 5a 4.

PSPs shall ensure that payers are able to place a payment order for an instant credit transfer through all of the same payment initiation channels as the ones through which those payers are able to place a payment order for other credit transfers;

notwithstanding Article 83 of Directive (EU) 2015/2366, immediately after the time of receipt of a payment order for an instant credit transfer, the payer’s PSP shall verify whether all of the necessary conditions for processing the payment transaction are met and whether the necessary funds are available, reserve or debit the amount of the payment transaction from the account of the payer, and immediately send the payment transaction to the payee’s PSP;

notwithstanding Article 83 and Article 87(2) of Directive (EU) 2015/2366, the payee’s PSP shall, within 10 seconds of the time of receipt of the payment order for an instant credit transfer by the payer’s PSP, make the amount of the payment transaction available on the payee’s payment account in the currency in which the payee’s account is denominated and confirm the completion of the payment transaction to the payer’s PSP;

notwithstanding Article 87(1) of Directive (EU) 2015/2366, the payee’s PSP shall ensure that the credit value date for the payee’s payment account is the same date as the date on which the payee’s payment account is credited by the payee’s PSP with the amount of the payment transaction; and

immediately upon receiving the confirmation of completion referred to in point (c), or where no such confirmation of completion is received by the payer’s PSP within 10 seconds of the time of receipt of the payment order for an instant credit transfer, the payer’s PSP shall, free of charge, inform the payer, as well as, where applicable, the payment initiation service provider, whether the amount of the payment transaction has been made available on the payee’s payment account.