Paid in the majority of traditional establishments, instant transfers are charged on average around one euro per transaction. But what about online banks?
In general, the classic SEPA transfer takes between 24 and 48 hours to be credited to the account of its beneficiary. The instantaneous transfer is carried out in a clear time. It appears in the credit of the account in less than 10 secondsand this 24 hours a day, 7 days a week. An undeniable advantage for those in a hurry, which until now allowed banks to justify an additional cost.
If a legislative proposal published at the end of October 2022 by the European Commission paves the way for a reduction in its unit price, in the meantime, the instant transfer initiated on the internet costs an average of 0.96 euros at the establishments which invoice it, according to the latest tariff statement from MoneyVox. However, some banks have opted for free. This is particularly the case for several online banks.
The dates on which transfers will not pass in 2023
Fortuneo and Revolut display a free unconditional
If you use instant transfers frequently and want an online bank that doesn’t charge for it, you can turn to Fortuneo and Revolut. Whether it is an occasional SEPA transfer, a permanent transfer or an instant transfer, Fortuneo and Revolut do not charge any fees to their customers for the execution of these operations. Ms. observation at Boursorama Banque. The Socit Gnrale group’s online bank does not charge for instant transfers either, but it does limit their amount to 2,000 euros per day.
What about other online banks? Bforbank, Ma French Bank and Orange Bank do not allow instant transfers at this time. Regarding N26, the fintech offers free on instant transfers for its Premium customers. But she applies 0.99 euro by transfer for the others. On the Monabanq side, two instant transfers are offered per month. The bank takes 0.90 euro by operation beyond. At Hello Bank, instant transfer is free for Hello Prime customers. It is necessary to count 1 euro by bank transfer for those who have subscribed to the Hello One offer.
Paylib option between friends
Hello bank also allows you to make instant transfers for free via PayPal, within the limit of 500 euros per day. Indeed, the free can also be used through the Paylib service between friends, offered in several banking establishments.
As a reminder, just like the classic SEPA transfer, the instant transfer is irrevocable. Since July 2020, the maximum transferable amount is 100,000 euros per transaction. Nevertheless, the banks remain free to apply ceilings lower than this limit. The instant transfer is a European means of payment. This means that it is possible to transfer money to any account held in one of the 37 countries of the SEPA zone. Good to know: receiving instant transfers is always free.
Comparator: which bank is currently the cheapest?