SEPA Instant & VOP is live!

Pay Right Now: Faster, Safer Payments Are Here

Big changes are coming to the way money moves in Ireland — and they’re designed to make payments faster and more secure than ever before.

From this month, Kilrush Credit Union members will begin to benefit from two major new features being rolled out across the banking and payments industry: SEPA Instant Payments and Verification of Payee (VOP).

What’s Changing

💶 SEPA Instant Payments

You’ll soon be able to send and receive euro payments in under 10 seconds — any time, any day of the year.
That means no more waiting for business hours or next-day processing. Whether you’re transferring money to family, paying a bill, or receiving a payment, the funds will move almost instantly.

🔒 Verification of Payee (VOP)

This new name-checking feature helps protect against fraud and misdirected payments.
When you set up a new payment, the system will check that the account name matches the details you’ve entered — giving you extra confidence that your money is going to the right person or business.

Why It Matters

These improvements mean greater speed, security, and convenience for everyone. Instant payments help you manage your money in real time, while Verification of Payee gives added peace of mind when sending funds.

Together, they represent a major step forward in Ireland’s digital payments system — part of a Europe-wide evolution in how money moves.

Learn More at PayRightNow.ie

The Pay Right Now national awareness campaign, led by the Banking & Payments Federation Ireland (BPFI), has launched to help everyone understand what’s changing and how it benefits you.

The website explains both features in plain language.

What Members Can Do

• Stay alert to communications from Kilrush Credit Union about these updates.

• See our FAQs available on our website downloads or click here

• Visit PayRightNow.ie to learn how instant payments and VOP work.

• Be ready to experience faster, safer payments — right now.

A Step Forward for Credit Union Members

At Kilrush Credit Union, we’re proud to be part of this transformation in how our members send and receive money.
These new features reflect our ongoing commitment to keeping your banking convenient, secure, and member-focused.