October brings a mix of EU-wide banking rules, digital health measures, and seasonal adjustments that touch households and businesses alike. Foremost among them is the introduction of Verification of Payee (VoP) for euro transfers, a move intended to reduce errors and curb fraud. Alongside this, banks must ensure real-time euro transfers can be sent free of charge. The month also brings a series of regulatory and policy changes, from biometric documentation to daylight saving time and beyond.
VoP Verification for Euro Transfers Begins October 9
Starting on 9 October, banks and payment service providers must verify the name and IBAN of the recipient before an euro transfer is sent. This “Verification of Payee” safeguards both the sender and the recipient by preventing misdirected payments and blocking some fraudulent attempts in which criminals misrepresent the recipient’s IBAN. The rule applies to all euro transfers, whether initiated online, in-branch, or as a real-time payment, and is part of a pan-EU implementation of the VoP process.
The verification uses information from the beneficiary bank and the payer’s bank to confirm that the account holder’s name matches the intended recipient. For customers, this means a quick check during payment entry and potentially a brief confirmation step. For banks, the process is built into the SEPA-compliant transfer flow and is designed to work seamlessly across euro-area institutions.
Free Real-Time Euro Transfers
In addition to VoP, euro-area banks must offer real-time transfers without charges for euro amounts. Real-time payments, processed in seconds via the SEPA Instant Credit Transfer framework, have been feasible for receiving since January; from 9 October, sending real-time euro transfers should also be free of fees, provided the transaction remains in euros and does not involve foreign currencies. Delays may still occur for non-business days or holidays with standard transfers, but the pricing change removes small fee barriers that previously existed for some institutions.
Other October Regulatory Changes You Should Know
Biometric border and entry/exit documentation
From 12 October, the EU will roll out a biometric-based system for recording entry and exit of third-country nationals. Instead of stamping passports, authorities will document biometric data such as fingerprints and facial recognition. After a six-month transition, the system is expected to be fully implemented across borders.
End of daylight saving time
As in recent years, the night of 25–26 October marks the end of daylight saving time. Clocks go back one hour to Central European Time (CET). It’s the last time the autumn time change is observed under current rules, though debates about abolishing annual clock changes have persisted in several regions.
Electronic Patient Records (ePA) become mandatory for providers
From 1 October, doctors and other healthcare providers are required to use the electronic patient record (ePA) to store diagnoses, treatments, and medications. Patients retain control over access; they can limit or revoke access and determine which providers may view their data. While patients may continue to opt out, the ePA is intended to centralize essential medical information for better coordinated care.
Heating meters and energy consumption
Starting 1 October, the use of heat and energy meters for residential heating and hot water is being tightened. A prior exemption known as the “warming pump privilege” has ended, and most properties must have appropriate meters to support consumption-based billing. The change is designed to encourage energy savings by making consumption more visible to tenants and landlords alike.
Windows 10 support ending
Microsoft has announced that Windows 10 will reach end-of-support on 14 October. Without security updates after this date, devices running Windows 10 will be more vulnerable to threats, and performance or compatibility issues could arise. Upgrading to Windows 11 or a newer version is advised to maintain security and reliability.
Other October updates: wages, streaming services, and more
Other notable October shifts include a 2.7% wage increase for journeymen in the roofing trades (tariff-based sector) and adjusted apprenticeship stipends: 50 euros more per month in the first two years, and 30 euros in the third year. In the digital realm, streaming services have begun price adjustments: new Spotify Premium subscriptions saw rate increases in mid-August, with existing subscribers offered a three-month grace period, after which continued access may require reconfirmation of the new price. Non-confirming users may revert to a free tier with ads. These service-level changes reflect ongoing market dynamics during October.
For households and small businesses, the constellation of VoP checks, free real-time transfers, border biometrics, and other October updates means a shift toward more secure, transparent, and efficient financial and digital systems. As always, when new rules take effect, it’s wise to check your bank’s communications and review any required actions in your accounts or with service providers to ensure a smooth transition.
