-
The Bank
-
The Bank - Column 1
- About the Banco de Portugal
- Sustainability
- Foreign exchange authority
-
The Bank - Column 2
-
Organisation
- Organisation chart
- Governor
- Board of Directors
- Distribution of remits and delegation of powers of the Board of Directors
- Board of Directors' Calendars
- Advisory Board
- Board of Auditors
- Internal audit
- Data protection policy
- Valora, S.A.
- Sociedade Gestora dos Fundos de Pensões
- National Council of Financial Supervisors
- Fintech +
- Recruitment
-
Organisation
-
The Bank - Column 3
- International activity
- Public consultations
- See more
- Media
-
Media - Column 1
- Press releases
- Public speeches
-
Media - Column 2
- Calendar
- Media - Column 3
- Publications and research
-
Publications - Column 1
- Economic Bulletin
- Financial Stability
- Monetary Policy
-
Publications - Column 2
- Payments
- Banknotes and coins
- See all the publications
-
Other publications
-
Publications - Column 3
- Research
- Economics in a picture
- Monographs and series
-
- Mission and tasks
-
Statistics
-
Coluna 1 - Estatística
- Introduction
-
Coluna 2 - Estatística
- Reporting obligations
- SDDS Plus
- Coluna 3 - Estatística
-
Coluna 1 - Estatística
-
Supervision
-
Column 1 - Supervision
- Single Supervisory Mechanism
- Prudential rules
- Macroprudential
- Banking conduct supervision
-
Column 2 - Supervision
-
Microprudential
- Objectives and principles
- Priorities
- Supervisory Review and Evaluation Process
- Duty to report
- Reporting obligations of supervised institutions
- Authorisations
- Supervision of culture and governance
- Suitability of members of the management and supervisory bodies and key function holders
- Adequação dos titulares de funções essenciais
- Suitability of qualifying shareholders
- European Market Infrastructure Regulation (EMIR)
- Forum on Cybersecurity and Operational Resilience
- See more
-
Microprudential
-
Column 3 - Supervision
-
Money laundering and terrorist financing
- Banco de Portugal's functions
- Financial Action Task Force
- Restrictive measures
- Registration of virtual assets service providers
- Report on the activity carried out in Portugal under the freedom to provide services
- Documents
- Legislation and rules
- Forum on the Prevention of Money Laundering and Terrorist Financing
- Illicit financial activity
- Brexit
-
Money laundering and terrorist financing
-
Column 1 - Supervision
-
Monetary policy
- Column 1 - Monetary policy
-
Column 2 - Monetary policy
- Interest rates
- Implementation
- Column 3 - Monetary policy
-
Payment systems
-
Column 1 - Payment systems
- Introduction
- Confirmation of Payee/Payer and SPIN
- Digital Euro
-
Column 2 - Payment systems
- Payment instruments
- Payment services under the PSD2
- Virtual assets
-
Column 3 - Payment systems
- Market Infrastructure
- Cooperation with the market
- See more
-
Column 1 - Payment systems
-
Banknotes and coins
- Column 1 - Banknotes and coins
-
Column 2 - Banknotes and coins
- Current coins
- Commemorative and collector coins
- Column 3 - Banknotes and coins
-
The Bank - Column 1
Anterior
-
The Bank
- voltar
- The Bank
-
About the Banco de Portugal
- voltar
- About the Banco de Portugal
- Mission and tasks
- Statute
- Legal Framework of Credit Institutions and Financial Companies
- Strategic plan
- Ethics and conduct
- History
-
Sustainability
- voltar
- Sustainability
- Approach to sustainability
- Social responsibility
-
Foreign exchange authority
- voltar
- Foreign exchange authority
- Banco de Portugal's functions
- Global code
-
Organisation
- voltar
- Organisation
- Organisation chart
- Governor
- Board of Directors
- Distribution of remits and delegation of powers of the Board of Directors
- Board of Directors' Calendars
- Advisory Board
- Board of Auditors
- Internal audit
- Data protection policy
- Valora, S.A.
- Sociedade Gestora dos Fundos de Pensões
- National Council of Financial Supervisors
-
Fintech +
- voltar
- Fintech +
- What is it and how does it work?
-
Recruitment
- voltar
- Recruitment
- See job opportunities
- International activity
-
Public consultations
- voltar
- Public consultations
- Banco de Portugal
- EBA
- Other institutions
- See more
-
Media
- voltar
- Media
-
Press releases
- voltar
- Press releases
- Banco de Portugal
- European Central Bank
- SSM
- EBA
- ESRB
-
Public speeches
- voltar
- Public speeches
- Governor
- Board members
- All
-
Calendar
- voltar
- Calendar
- Events
- Publications
- Indicators
- All
- See media contacts
-
Publications and research
- voltar
- Publications and research
-
Economic Bulletin
- voltar
- Economic Bulletin
- See all
- Accessible summary
- Economic projections
- Financial Stability
-
Monetary Policy
- voltar
- Monetary Policy
- Report on Monetary Policy Implementation
- Payments
-
Banknotes and coins
- voltar
- Banknotes and coins
- Report on Cash Issuance
- See all the publications
-
Other publications
- voltar
- Other publications
- Research
- Economics in a picture
-
Monographs and series
- voltar
- Monographs and series
- Order publications
- See publications
- Publicação em destaque 1
- Publicação em destaque 2
-
Mission and tasks
- voltar
- Mission and tasks
-
Statistics
- voltar
- Statistics
-
Introduction
- voltar
- Introduction
- Banco de Portugal Statistics
- Statistical events
-
Reporting obligations
- voltar
- Reporting obligations
- Reporting obligations for statistical purposes
- List of entities for statistical purposes
- SDDS Plus
- Browse data
-
Supervision
- voltar
- Supervision
-
Single Supervisory Mechanism
- voltar
- Single Supervisory Mechanism
- How does it work?
- Press releases
- Prudential rules
-
Macroprudential
- voltar
- Macroprudential
- Macroprudential policy
- Macroprudential measures
-
Banking conduct supervision
- voltar
- Banking conduct supervision
- Objectives
- Regulation
- Oversight
- Financial education
- Banking Conduct Supervision Forum
-
Microprudential
- voltar
- Microprudential
- Objectives and principles
- Priorities
- Supervisory Review and Evaluation Process
- Duty to report
- Reporting obligations of supervised institutions
- Authorisations
- Supervision of culture and governance
- Suitability of members of the management and supervisory bodies and key function holders
- Adequação dos titulares de funções essenciais
- Suitability of qualifying shareholders
- European Market Infrastructure Regulation (EMIR)
- Forum on Cybersecurity and Operational Resilience
- See more
-
Money laundering and terrorist financing
- voltar
- Money laundering and terrorist financing
- Banco de Portugal's functions
- Financial Action Task Force
- Restrictive measures
- Registration of virtual assets service providers
- Report on the activity carried out in Portugal under the freedom to provide services
- Documents
- Legislation and rules
- Forum on the Prevention of Money Laundering and Terrorist Financing
-
Illicit financial activity
- voltar
- Illicit financial activity
- Unauthorised activity
- Public warnings
- Advice
- Brexit
-
Monetary policy
- voltar
- Monetary policy
- Definition and strategy
-
Information systems
- voltar
- Information systems
- SITENDER, COLMS and TEB
- Eurosystem Collateral Management System
-
Interest rates
- voltar
- Interest rates
- Official and reference interest rates
-
Implementation
- voltar
- Implementation
- Instruments
- Collateral
- Counterparties
- Other monetary policy measures
-
Payment systems
- voltar
- Payment systems
-
Introduction
- voltar
- Introduction
- Banco de Portugal's functions
-
Confirmation of Payee/Payer and SPIN
- voltar
- Confirmation of Payee/Payer and SPIN
- Confirmation of Payee/Payer
- SPIN
- Digital Euro
-
Payment instruments
- voltar
- Payment instruments
- About
- Cards
- Cheques
- Direct debits
- Credit transfers
- Instant transfers
- IBAN
-
Payment services under the PSD2
- voltar
- Payment services under the PSD2
- About
- Strong customer authentication
- Account information services and payment initiation services
-
Virtual assets
- voltar
- Virtual assets
- How does it work?
- Market Infrastructure
-
Cooperation with the market
- voltar
- Cooperation with the market
- CISP
- Payment Systems Forum
- AMI-SeCo-PT
- See more
-
Banknotes and coins
- voltar
- Banknotes and coins
-
Banknote production
- voltar
- Banknote production
- Valora, S.A.
- Gestão da qualidade
- Cash and sustainability
- Banknotes
- Current coins
-
Commemorative and collector coins
- voltar
- Commemorative and collector coins
- Collector coins
- Commemorative coins
-
Training
- voltar
- Training
- Face-to-face and e-learning
- Anti-counterfeiting
- For professionals
Search
Tags
- AGIL
- Balance of Payments
- Banco de Portugal
- Bank loans and deposits
- Banknotes and coins
- Cheques
- Collector coins
- Commemorative coin
- Cooperation
- Corporations in the Central Balance-Sheet Database
- COVID-19
- Decoder
- Digital euro
- Direct debits
- Direct investment
- EBA
- Economics in a picture
- Economic studies
- EFAP
- European Central Bank
- Financial stability
- General government financing
- Governor
- Historical archive
- IBAN
- Infographics
- Interest rate
- International banking statistics
- Investment Funds
- Library
- Macroprudential measure
- National Council of Financial Supervisors
- National financial accounts
- Non-financial sector indebtedness
- Organisation
- Other financial intermediaries, financial auxiliaries and captive financial institutions and money lenders balance sheet
- Payment cards
- Payment instruments
- Podcast
- Política Monetária
- Posição de investimento internacional
- Press release
- Public debt
- Reciprocidade voluntária
- Reserva contracíclica
- Reserva de conservação
- Reserva de O-SII
- Securities issues
- SICOI
- Single Supervisory Mechanism
- Sistemas de Pagamentos
- SITENDER
- Statistical Press Release
- Statistics
- Supervisão
- Sustainability
- T2S
- TARGET2
- TARGET2-Securites
- Transferências
- Vídeo
- Virtual assets
Ano
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2013
- 2012
- 2011
- 2010
- 2009
- 2008
- 2007
- 2006
- 2005
- 2004
- 2003
- 2002
- 2001
- 2000
- 1999
- 1998
- 1997
- 1996
- 1995
- 1994
- 1993
- 1992
- 1991
- 1990
- 1989
- 1988
- 1987
- 1986
- 1985
- 1984
- 1983
- 1982
- 1981
- 1979
- 1978
- 1974
- 1969
- 1962
- 1957
- 1953
- 1950
- 1947
- 1940
- 1933
- 1932
- 1929
- 1927
- 1926
- 1922
- 1920
- 1917
- 1916
- 1915
- 1914
- 1913
- 1912
- 1911
- 1896
- 1876
- 1864
- 1844
Related Pages
SPIN
Related links
SPIN is made available by the Banco de Portugal to payment service providers, within the framework of the Interbank Clearing System (SICOI).
In turn, payment service providers supply SPIN across different channels to payment service users.
SPIN is available from 24 June 2024 and will have to be implemented by payment service providers by 16 September 2024.
SPIN is a proxy lookup/alias functionality, allowing payment service users to initiate credit and instant transfers, by indicating the mobile phone number – where the payee is a natural person – or the legal person identification number (LPIN) – where the payee is a legal person.
This functionality improves user experience when executing transfers, by making it possible for transfers to be initiated on the basis of known or memorable payee identifiers (mobile phone number or LPIN), instead of the IBAN.
SPIN is available, at no additional cost, to all payment service users when initiating credit and instant transfers through the various channels of their payment service providers, either remote (e.g. home banking or app) or face-to-face channels (e.g. counters).
The provision of SPIN is regulated by Instruction of the Banco de Portugal No 2/2024, in force since 8 February 2024, amending Instruction of the Banco de Portugal No 8/2018 – SICOI Regulation.
Payment service users do not need to join SPIN to perform credit and instant transfers using a payee identifier (mobile phone number or LPIN). However, users have to link their mobile phone number (in case of private individuals) or LPIN (in case of legal persons) to SPIN if they wish to receive transfers to their payment account based on their identifier.
At any given point in time, a specific user identifier can only be linked, for SPIN purposes, to a single IBAN (the IBAN of the account where the user will receive transfers initiated using this identifier). Whenever they so wish, payment service users may change or terminate the link between their identifier (mobile telephone number or LPIN) and their payment account’s IBAN.
Requests for joining SPIN, as well as to change or delete the user identifier (mobile phone number in the case of natural persons or LPIN in the case of legal persons) must always be made through the payment service providers where the payment accounts are domiciled.
For more information, please refer to the frequently asked questions “How to receive transfers through SPIN?” and “Is it possible to change or delete the link between a user identifier and an IBAN?”.
To initiate credit and instant transfers via SPIN, it is necessary to ensure that the recipients of the funds have previously linked their identifier (mobile phone number in the case of natural persons or LPIN in the case of a legal person) to the IBAN of the payment account where they wish to receive the funds.
After that first step, originators may initiate the payment transaction, on their payment service provider’s channel, by introducing the payee’s mobile phone number or LPIN. The payee’s mobile phone number may be entered manually or, where the payment service provider so permits, introduced by selecting the contact in the contact list of the originator’s mobile phone.
Afterwards, and before authorising the transaction, originators see the name of the first account holder of the account corresponding to the identifier. If the destination account is held by a legal person, the corporate name is returned and, if any, the trading name. For more information on the Single Confirmation of Payee functionality, please refer to the dedicated section.
SPIN is made available by the Banco de Portugal to payment service providers established in Portugal participating in the SICOI’s instant transfer subsystem and/or SEPA component of the credit transfer subsystem.
The Banco de Portugal does not offer this functionality to the following payment service providers:
entities established in Portugal that do not participate in SICOI or, while participating in SICOI, do not participate in the instant transfer subsystem or the SEPA component of the credit transfer subsystem;
branches of domestic payment service providers established outside Portugal, even if they participate in SICOI.