Do we need to pay billions in fees to Stripe, Block, PayPal and Visa/MC?

Re:Do we need to pay billions in fees to Stripe, Block, PayP... by Muromec on Saturday August 17, 2024 @08:15PM (#41279133)

SEPA has no fees and doesn’t care about currencies either. It’s EU only however.

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Re:Do we need to pay billions in fees to Stripe, Block, PayP... by snotrockets on Saturday August 17, 2024 @09:40PM (#41279493)

You're wrong on all accounts here:

1. Banks are also allowed to charge fees for SEPA transfers, with some limitations.

2. It does care about currencies, in that it only supports one: the E stands for Euro, and all SEPA transfers, in the four rails it provides, are in Euros, including transfers from and to countries that are not in the euro zone.

3. And SEPA isn't limited to the European Union, as it has 36 states participating in the scheme, more than the EU's 27.

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