3 ms·

Since November EU regulation mandates that SEPA transfers should finish within 10 seconds[0]. In practice we're not quite there yet since some smaller regional

Since November EU regulation mandates that SEPA transfers should finish within 10 seconds[0]. In practice we're not quite there yet since some smaller regional banks have trouble moving from batch processing to streams, but their deadline extension ends june 2018. [0] https://www.europeanpaymentscouncil.eu/sites/default/files/KB/files/EPC278-16_Infographic_SCT%20Inst_Nov%202016_FINAL.pdf https://www.europeanpaymentscouncil.eu/sites/default/files/K...

owenversteeg 9y ago
Huh, that's interesting. I remember transferring a few euros for shared pizza to a friend's account a few months back and it took a day. This was between two very large, modern Dutch banks.
- pgeorgi 9y ago
  >> Since November > a few months back :-) And as the sibling post mentions, it's a new type of transaction. Regular money transfers have to clear on the next day.
germanier 9y ago
It mandates that banks offer a 10-second-transaction but not that all transactions are that fast. For example, the only German bank currently supporting that charges a 0,50€ fee while regular (slower) transfers are free.