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That's simply not true. SEPA explicitly states that all SEPA transactions should cost the same amount of money. Either your bank is ripping you off, or you're n
by Tharkun 10y ago
That's simply not true. SEPA explicitly states that all SEPA transactions should cost the same amount of money. Either your bank is ripping you off, or you're not using SEPA.
Clarification: that is to say for the same originating party. Different banks can charge whatever they like, but always the same amount for any SEPA payment, regardless of the target bank.
- icebraining 10y agoWhere does it say that? EC 924/2009 only says that the cost for a cross-border transfer must be the same as a corresponding national transfer, not that it must be a fixed amount. Furthermore, it leaves at the discretion of the national regular what a "corresponding transfer" means.
- shezi 10y agoWhat would be the difference between "the same" and "a fixed amount"? If it is "the same" for all transfers, would that not be a "fixed amount"?
- icebraining 10y agoIt's not the same for all transfers. It's the same for a cross-border transfer as for an equivalent national transfer. Meaning that they can charge a percentage of the transfer, rather than a fixed amount, as long as they charge the same percentage for a national transfer.
- mdekkers 10y agoHey, come and tell my bank in Cyprus. I am getting ripped off for literally hundreds of euros in fees every month on SEPA charges. I actually looked into this when they were finally forced to offer SEPA (still a hidden thing in their online banking) transfers, and I noticed they charge the same as for SWIFT. When I brought it up they said "if you make a big deal about it we will close your account"