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> It's free for you, but not for the bank I should have specified that I'm thinking of intra-EU bank transfers. They're as close to free for all parties involv

• herbst 4y ago
  There is no free in banking. With local banks you usually have a monthly or yearly banking fee. And app banks do all kind of weird financial models. Both models cashing in extra fees for withdrawals above a limit, outside the county etc. One year I paid more than $500 banking fees in a year with zero monthly fee. For withdrawals abroad, exchange rates for deposits and withdrawals, calling with a more specific problem, etc. Also as a merchant I do pay a fee on incoming swift transfers just to have a little automation. (Plus a monthly fee to use my company name instead of private name) Nothing is free Edit:// also you can't send instand swift transfers on a holiday or Sunday. Sometimes not even Saturday. (or at night for that matter) Sometimes delaying up to 4 days (Easter) It's a imperfect solution either way.
  • Symbiote 4y ago
    For what it's worth, transfers within Europe using the local currency are usually free for consumers and have a small charge (€0.20 or so) for small businesses. I don't know if large businesses get a discount. 'Low' amounts (varies by country, call it under €20,000) are processed at evenings and weekends too.
    • herbst 4y ago
      I don't know of any bank that is clearing swift payments on the weekend (Swiss here). Not sure where you are from but I highly doubt this applies as European standard.
      • Symbiote 4y ago
        I refer to the "instant payment" systems. https://www.ecb.europa.eu/paym/integration/retail/instant_payments/html/index.en.html https://www.ecb.europa.eu/paym/integration/retail/instant_pa...