5 ms·
In what countries can you do free electronic transactions?
by Znafon 7y ago
In what countries can you do free electronic transactions?
- xrendan 7y agoCanada if you want to pay the Interac (our debit system).
- lisper 7y agoU.K. and South Korea are the two that I know of but there are probably others. (According to the sibling comment, Canada is on the list too.)
- parsadotsh 7y agoChina, for one. (in Beijing atm)
- siod 7y agoAustralia has free bank transfers and our credit card fees are regulated to be significantly lower (amex = ~1.5%, visa/mc = ~0.5%).
- tialaramex 7y agoIf you're a business basically nowhere. Some of the sibling comments are suggesting e.g. the UK where I live. Modestly sized transactions (maybe not the price of a new car or home but from pocket change to a nice family holiday) between individuals are zero cost and typically near instant. But a business can't access those rates. However the EU forced the payment services sector to cap charges for businesses so you're maybe paying 0.5% or less on a transaction not 2.5% and that's why you don't see amazing cashback card deals or big discounts for cash in the EU normally.
- malandrew 6y agoDespite what anyone says, the answer is none. Taxes are paying for those electronic transactions to be possible.