Re:Swedes rebelling against a cashless society (2018)
by fauigerzigerk on Friday March 06, 2020 @11:19AM
(#22504763)
>If that's not supported somehow classic SEPA transfers work everywhere, and arrive in 1 business day max.
Right, but one business day will often be two days during the week and four days over the weekend, because many banks set an arbitrary cut-off time after which they will no longer process any payments.
One bank I use will process payments received after 12:00 pm (lunchtime) on the next day. So the money will arrive two days later, unless it's a Friday, in which case the money arrives on Tuesday.
Re:Swedes rebelling against a cashless society (2018)
by mixmastamyk on Friday March 06, 2020 @12:54PM
(#22505659)
Keep a full paycheck spare and then never have to worry about it again.
> still slow (same bank)
SEPA instant credit transfer is standardized since 2017 and supported by > 50% of banks & payment providers (https://www.europeanpaymentscouncil.eu/what-we-do/sepa-insta...). If both parties support that then bank transfers take under 10 seconds.
If that's not supported somehow classic SEPA transfers work everywhere, and arrive in 1 business day max. 1 day isn't something you can use in a shop of course, but if you need to pay back a friend it's pretty acceptable imo.
> unacceptable (different banks)
Not accepting IBANs or SEPA payments from other banks or from banks in other EU countries is illegal, and comes with substantial fines.
It still happens in places of course, especially in slow moving large orgs, but if you still find organizations doing this nowadays then you can report them as breaching EU payment regulations (https://eba.europa.eu/consumer-corner/how-to-complain) and that should set a fire under things pretty quickly.