Slovakia sees surge in instant SEPA payments and warns travelers about currency conversion traps

Instant SEPA payments have become the dominant form of electronic transfers in Slovakia. Data from the National Bank of Slovakia show that in the second quarter of 2026 instant transactions accounted for 54.9 % of all SEPA payments, up from 47 % in the fourth quarter of 2025. The growth follows EU regulations that, from January 2025, required euro‑area banks to accept instant payments and, from October 2025, to enable their outward use. Payments settle within seconds, operate continuously, and banks may not charge higher fees than for traditional transfers.

At the same time, Slovak banks are urging citizens travelling abroad to reject Dynamic Currency Conversion (DCC) offers on terminals and ATMs. Choosing the local currency – Czech koruna, Polish złoty, Hungarian forint, Turkish lira or British pound – avoids the higher rates and surcharges applied by merchants or ATM operators. Tatra Banka and other issuers recommend declining the EUR option to prevent unnecessary loss.

These developments reflect a broader shift in how Slovak consumers handle domestic and cross‑border payments.