4 ms·
I assume you are talking about Europe here? At least the word on the street I hear about their banking system is that transferring ~$1000 is lightyears ahead of
by KingMachiavelli 6y ago
I assume you are talking about Europe here? At least the word on the street I hear about their banking system is that transferring ~$1000 is lightyears ahead of the US in terms of speed, cost, and ease of use. BUT transferring ~$30,000 (or some cutoff) is much harder than the US and bogged down by regulations.
Do you have any personal insight into this in the EU?
- Negitivefrags 6y agoI’m not in the EU so I can’t say. In NZ, I can transfer up to 500k online and inter-bank settlement is hourly. That’s just the limit on my account ( which I could raise, but haven’t). More than that and it’s a paper form. Settlement is still hourly but because humans are involved it takes longer to get the transaction into the system. Oh, and I should mention that you wouldn’t hesitate to publicly give out your bank account number here either.
- dandellion 6y agoSome accounts have a limit of 10000€ per day for transferences. I've never had to transfer more than that but I guess you can do it over several days or visit your bank. I've done transferences with 4 different banks and never had to pay anything for them.