4 ms·

> most of the rest of the world has had for a decade or more What specific system are you implying? In Slovenia, I can't make a bank transfer online when my ba

> most of the rest of the world has had for a decade or more What specific system are you implying? In Slovenia, I can't make a bank transfer online when my bank is closed (at night). Money transfer between banks costs me 40 cents per transaction and international transfer in the EU costs me around 7 €. Maestro card is instant and free and works even when the bank is closed, but it is only used for spending money. I don't pay any fees for my bank account, since I'm younger than 27.

watermelon0 4y ago
EU countries (and a few others) are part of SEPA, where we have SEPA Instant Payments, which offer instant payments between bank accounts, 24/7. Price depends on the bank (and the type of bank account you have), but it's about 1 EUR or less. --- Many countries also have local payment systems, that are usually limited to a single country. For example, in Slovenia, we have Flik Pay, which allows sending money between individuals via mobile app, without any fees, and it also works 24/7.
- jesprenj 4y ago
  I see - probably the Nujno (urgent) checkbox on a SEPA form activates this SEPA instant payment. I know about Flik and I like the appeal of it, but I do not use it because it requires a proprietary client (NLB Pay in my case). Do you know of any public or reverse engineered specification or unofficial FOSS client?
newaccount74 4y ago
> international transfer in the EU costs me around 7 € Are you sure about that? I thought with SEPA all Euro transfers within the EU have to be the same fee as national transfers, which is free for almost all consumer bank accounts in Austria. My bank charges for instant transfers on my business account (around 8€), but other than that all transfers are free.
- jesprenj 4y ago
  You are right, I verified this now. EU payments cost me the same amount as domestic payments. The ~7 € charge I remember was probably due to conversion. I wanted to send money to Croatia, which at the time did not use Euro yet.
TedDoesntTalk 4y ago
> I'm younger than 27 Why is age relevant to fees?
- Denvercoder9 4y ago
  Lots of banks (at least in the EU) give free accounts to young people (usually until 25 or 27), in the hope that they'll stay a customer for life, because changing your bank account number is a hassle.

watermelon0 4y ago

EU countries (and a few others) are part of SEPA, where we have SEPA Instant Payments, which offer instant payments between bank accounts, 24/7. Price depends on the bank (and the type of bank account you have), but it's about 1 EUR or less. --- Many countries also have local payment systems, that are usually limited to a single country. For example, in Slovenia, we have Flik Pay, which allows sending money between individuals via mobile app, without any fees, and it also works 24/7.

jesprenj 4y ago
I see - probably the Nujno (urgent) checkbox on a SEPA form activates this SEPA instant payment. I know about Flik and I like the appeal of it, but I do not use it because it requires a proprietary client (NLB Pay in my case). Do you know of any public or reverse engineered specification or unofficial FOSS client?

newaccount74 4y ago

> international transfer in the EU costs me around 7 € Are you sure about that? I thought with SEPA all Euro transfers within the EU have to be the same fee as national transfers, which is free for almost all consumer bank accounts in Austria. My bank charges for instant transfers on my business account (around 8€), but other than that all transfers are free.

jesprenj 4y ago
You are right, I verified this now. EU payments cost me the same amount as domestic payments. The ~7 € charge I remember was probably due to conversion. I wanted to send money to Croatia, which at the time did not use Euro yet.

TedDoesntTalk 4y ago

> I'm younger than 27 Why is age relevant to fees?

Denvercoder9 4y ago
Lots of banks (at least in the EU) give free accounts to young people (usually until 25 or 27), in the hope that they'll stay a customer for life, because changing your bank account number is a hassle.