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SEPA wire transfers are actually not processed instantly. Banks are allowed to take up to one working day. Also, there are still numerous banks that charge a fee per transaction.

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> Also, there are still numerous banks that charge a fee per transaction.

I think that's the rule rather than the exception.

Where? Certainly not in Germany.

I think he meant cross-country transfers, i.e. when you use IBAN. They are not free, as far as I know, in Czech Republic and Slovakia, both being a member of Schoengen zone, Slovakia even has Euro.

Ah that's interesting. All transfers that I've done within the EU have been free of charge thus far, but I haven't transferred anything to Czech Republic and Slovakia. Wonder if that's a local banking policy.

International fee must be the same as national ones in SEPA.

This means that if your bank charges 0€ for national transfers, it cannot charge for SEPA ones (the ones with IBAN). But it could in theory charge for national and SEPA wires.

http://en.wikipedia.org/wiki/Single_Euro_Payments_Area#Misco...

Banks are not longer allowed to charge for transactions within the Euro zone.

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