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Free instant transfers: why all banks will have to do it quickly

2023-12-05T08:28:00.349Z

Highlights: European regulation obliges banks to offer this service to their customers, at the same rate as standard transfers. But five years after its launch in France, the instant transfer is still struggling to take off. For individuals, however, it has a huge advantage: that of transferring sums of money from bank to bank in a matter of seconds, at any time of the day or night. The funds are immediately visible and usable by the recipient, whereas it usually takes at least 24 hours, or even 48 hours or 72 hours, to see a standard transfer confirmed.


A European regulation, currently being adopted, obliges banks to offer this service to their customers, at the same rate as standard transfers.


Its use is increasing every year. But five years after its launch in France, the instant transfer is still struggling to take off. For individuals, however, it has a huge advantage: that of transferring sums of money from bank to bank in a matter of seconds, at any time of the day or night. The funds are immediately visible and usable by the recipient, whereas it usually takes at least 24 hours, or even 48 hours or 72 hours, to see a standard transfer confirmed.

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Source: leparis

All business articles on 2023-12-05

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