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> Charges applied by a PSP in respect to instant credit transfer transactions in euro cannot be higher than the charges applied to “non- instant” credit transfe

by Sphax 3y ago

> Charges applied by a PSP in respect to instant credit transfer transactions in euro cannot be higher than the charges applied to “non- instant” credit transfer transactions in euro. does this mean instant SEPA transfers must now be free ? Because currently my french bank charges 1€ or something for instant SEPA transfers but doesn't charge anything for non-instant SEPA transfers.

Traubenfuchs 3y ago
> does this mean instant SEPA transfers must now be free ? It seems that is the point. With my current bank it‘s free, but I need to enable it for every transaction. Annoying.
FirmwareBurner 3y ago
Same in Austria. Vanilla SEPA is free(1-3 days) but Instant SEPA is €1.50 at my discount bank. They're just trying to milk every possible avenue while they can. Poor banks. /s
diogocp 3y ago
No. Banks can charge for non-instant transfers, and many do.
fransje26 3y ago
It's fun when you know that SEPA transfers are: - Guaranteed by the European central bank, that is advancing the money for free - Done instantaneously, by the ECB - Cost around 0.01 euro per transfer So the entire delay between sending and receiving the money, that banks pretend is used to guarantee that the transfer is legitimate, and that the money exists etc, etc is actually purely artificial. The ECB is shouldering the risk, and advancing the money, free of cost. All the rest (extra charges, delays, etc.) are banks handsomely lining their pockets.
JackSlateur 3y ago
As-tu déjà penser à changer de banque .. ? Les virements, comme les CB, c'est gratuit depuis des années chez des grosses banques comme boursorama
vwkd 3y ago
IIUC, it depends on your bank. If your bank doesn’t charge you for normal transfers, it can’t charge you for instant transfers. Since most banks don’t charge for normal transfers, it will be free for most users.
hulitu 3y ago
> does this mean instant SEPA transfers must now be free ? No. It just means that your transactions will fail because of poor internet. /s

by Sphax 3y ago

Traubenfuchs 3y ago

> does this mean instant SEPA transfers must now be free ? It seems that is the point. With my current bank it‘s free, but I need to enable it for every transaction. Annoying.

FirmwareBurner 3y ago

Same in Austria. Vanilla SEPA is free(1-3 days) but Instant SEPA is €1.50 at my discount bank. They're just trying to milk every possible avenue while they can. Poor banks. /s

diogocp 3y ago

No. Banks can charge for non-instant transfers, and many do.

fransje26 3y ago

It's fun when you know that SEPA transfers are: - Guaranteed by the European central bank, that is advancing the money for free - Done instantaneously, by the ECB - Cost around 0.01 euro per transfer So the entire delay between sending and receiving the money, that banks pretend is used to guarantee that the transfer is legitimate, and that the money exists etc, etc is actually purely artificial. The ECB is shouldering the risk, and advancing the money, free of cost. All the rest (extra charges, delays, etc.) are banks handsomely lining their pockets.

JackSlateur 3y ago

As-tu déjà penser à changer de banque .. ? Les virements, comme les CB, c'est gratuit depuis des années chez des grosses banques comme boursorama

vwkd 3y ago

IIUC, it depends on your bank. If your bank doesn’t charge you for normal transfers, it can’t charge you for instant transfers. Since most banks don’t charge for normal transfers, it will be free for most users.

hulitu 3y ago

> does this mean instant SEPA transfers must now be free ? No. It just means that your transactions will fail because of poor internet. /s