France/Instant transfers will now be free of charge at all European banks

The European Union makes instant transfers free of charge at all banks in the euro zone.

Faster and now free! The European Union will make instant transfers free of charge at all banks in the euro zone from 2025. The decision was taken on Monday February 26 by the European Union. This European regulation requires banks to offer this instant payment service, guaranteeing money transfers in under 10 seconds, at any time of day, every day of the year.

Fees of up to 1 euro per transaction

A limit of 15,000 euros will be set for these instant transfers, but beyond this sum, transactions will remain subject to the usual rules. The charges applied will not exceed those for standard transfers, a measure that should reassure consumers. In France, where most traditional transfers are free of charge, this decision will allow access to this service free of charge. At present, only a handful of banks offer instant transfers at no extra charge. At some banks, charges can be as high as 1 euro per transaction. This development should help democratize the service. Today, instant transfers are still little used in Europe, accounting for just 10% of all transfers by 2022, according to the Banque de France.

Source: www.femina.fr/