Your Mother’s Maiden Name Is Not a Secret

Re:Your Mother’s Maiden Name Is Not a Secret by the8472 on Friday December 29, 2017 @11:59PM (#16033920)

Since November EU regulation mandates that SEPA transfers should finish within 10 seconds[0]. In practice we're not quite there yet since some smaller regional banks have trouble moving from batch processing to streams, but their deadline extension ends june 2018.

[0] https://www.europeanpaymentscouncil.eu/sites/default/files/K...

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Re:Your Mother’s Maiden Name Is Not a Secret by germanier on Saturday December 30, 2017 @01:05AM (#16034084)

It mandates that banks offer a 10-second-transaction but not that all transactions are that fast. For example, the only German bank currently supporting that charges a 0,50€ fee while regular (slower) transfers are free.

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Re:Your Mother’s Maiden Name Is Not a Secret by owenversteeg on Saturday December 30, 2017 @12:23AM (#16033974)

Huh, that's interesting. I remember transferring a few euros for shared pizza to a friend's account a few months back and it took a day. This was between two very large, modern Dutch banks.

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Re:Your Mother’s Maiden Name Is Not a Secret by pgeorgi on Saturday December 30, 2017 @12:03PM (#16036094)

>> Since November

> a few months back

:-)

And as the sibling post mentions, it's a new type of transaction. Regular money transfers have to clear on the next day.

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