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As a counterpoint, there are nearly 4,000 banks operating in the Eurozone. In 2017 a scheme was mandated by the European Central Bank for Instant Payments (actu
by leokennis 2y ago
As a counterpoint, there are nearly 4,000 banks operating in the Eurozone. In 2017 a scheme was mandated by the European Central Bank for Instant Payments (actual funds moved between banks within 20 seconds) which currently most banks support, all banks can receive and which by October this year all banks must be able to send out.
It is possible in the US. But somehow it's not happening.
- sofixa 2y agoDon't forget that Instant Payments are free.
- elric 2y agoTerms and conditions apply there.
- sofixa 2y agoLike what?
- elric 2y agoNot every bank supports it yet, and it's not always free. Some offer a limited number of free instant payments. One of my banks charged 1eur per instant payment up until recently. I understand the situation is improving, however.
- sofixa 2y ago> One of my banks charged 1eur per instant payment up until recently Illegal since 1 January, which is why they stopped. Hence why I'm saying it's free. As for not all banks supporting it, if I'm not mistaken it will be mandatory by the end of the year, and the majority already do.