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In Europe you have SEPA. That insures that you can send EUR between all European banks instantly for free.
by madsbuch 3y ago
In Europe you have SEPA. That insures that you can send EUR between all European banks instantly for free.
- teetertater 3y agoReceiving SEPA is not instant however, it usually takes 24 hrs or longer in case of weekends. When I lived in Canada I really took e-transfer for granted and was surprised to learn it's not a thing in other places.
- hocuspocus 3y agoThe SEPA Instant Credit Transfer rollout has started a few years ago, it's really common today. But even old school SEPA transfers shouldn't take more than a few hours nowadays, outside weekends and holidays.
- rini17 3y agoThere's instant SEPA being rolled in, if sender and receiver bank support it.
- thou234i32434 3y agoAll this seems so primitive compared to India's UPI.
- hocuspocus 3y agoIt is! To be fair it's easier to build something right when you don't have 20 years of legacy systems that need to keep running. Also, while SEPA covers fewer people, there are 36 countries involved. I believe https://empsa.org https://empsa.org members should eventually be interoperable with UPI, among others.
- bunga-bunga 3y ago> for free YMMV. My main bank charges 0.5% up to 20€ or something. My second bank does not.