this post was submitted on 09 Nov 2023
233 points (98.7% liked)
Europe
8484 readers
1 users here now
News/Interesting Stories/Beautiful Pictures from Europe πͺπΊ
(Current banner: Thunder mountain, Germany, π©πͺ ) Feel free to post submissions for banner pictures
Rules
(This list is obviously incomplete, but it will get expanded when necessary)
- Be nice to each other (e.g. No direct insults against each other);
- No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
- No posts linking to mis-information funded by foreign states or billionaires.
Also check out !yurop@lemm.ee
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The whole EU already has SEPA Instant Payments which allow the transfer of up to 100.000β¬ per transaction in under 3 seconds. This law is just about making it Default
And free if I remember correctly. I never used it because my bank was like "Fees might apply". Trying to figure out which fees and how much was pretty much impossible.
In Germany itβs generally 1β¬ per transaction π€‘
Nope. It's not. My Sparkasse charges nothing
Thatβs rather the exception than the norm. All my banks charge 1β¬. All Sparkassen I researched you pay at least something:
https://www.sskm.de/de/home/service/echtzeit-ueberweisung.html
There it is 0.75β¬
Here it is of my Sparkasse, 0β¬
Donβt doubt that but as I said, this is the exception rather than the norm.
Sparda Bank Berlin also allow free real-time transactions.
Sparda Bank Hamburg however does not.
This is so weird.
This is the least weird aspect about the Sparkassen system. They served their purpose but are being obsolete these days.
Sparda Bank β Sparkasse
True, of course. But the Volksbanken are similar to the Sparkassen when it comes to confusing customers.
That's a shame
In Greece is 4-6β¬ per transaction for every 100β¬π (now we have created the interbanking system called IRIS which you can send money to an IBAN linked with your phone number for free)
I canβt wait for the day when consumers can cut banks out of their lives.
How would you get loans without banks?
From the central bank at slightly above policy interest rates. Cutting out as many middlemen as possible should be imperative for our age of technology.
That is until we have gotten rid of the central banking system β¦