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> because bank wire takes days Wait what? I thought there was a European regulation that bank wires must be completed in less than 24 hours? Or was that German
by mbirth 5y ago
> because bank wire takes days
Wait what? I thought there was a European regulation that bank wires must be completed in less than 24 hours? Or was that Germany only? Most wiring from a German to another German account happens instantly nowadays.
- Bayart 5y agoRegular SEPA wires between different banks take about one working day in France. But they can take up to three, legally. And four in the EU. Transfers in the same bank are usually instant. In practice expect a 24h turnaround on a SEPA transfer during the week. SEPA Instant Credit Transfer is probably what you're thinking about, but it's not universally supported by every bank yet.
- Plasmoid2000ad 5y agoSomething similar happens in Ireland. The regulations make the Outgoing bank process the Wire rapidly, within 24 hours or much less. However the receiving bank can let it sit to clear for multiple days. Here it's the older more establishment banks dragging their heels.