The cheapest instant transfer?

The European Central Bank intends to boost the use of instant transfers by lowering its price, often fixed at 1 euro. In France, this system represented less than 1% of transfers in 2020.

Instant transfer is still struggling to win. The reason? His price! According to figures from MoneyVox, in the banks that offer the service, the issuance of instant transfers – much faster than the traditional version between 24 and 72 hours for the payment of money – is generally chargeable and invoice between 0.50 and 1 euro (0.94 euro on average). When the order is placed through an advisor, by telephone or in a branch, this average price is 4.93 euros but can go up to 6euros.

On the other hand, for small instant payments up to 500 euros, operated through Paylib between friends, the instant transfer is free for customers of banks that offer this service.

To make transfers of a higher amount with reduced fees, the European Central Bank is raising the tone, reports The world. Instant payments are sometimes offered to consumers for 1 euro per transaction. This must change, recently said Fabio Panetta, member of the management board. And this one to ask that the prices are neither excessive nor hidden from consumers.

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Goal, facilitate the use of the transfer in less than 10 seconds for the purchase of goods, as an alternative to the bank card. Ultimately, the ECB wants to compete with the Americans Visa, MasterCard and with the GAFA. In 2020, this type of transaction represented only 1% of transfers according to the French Banking Federation (FBF). Instant transfer required very significant investments on the part of the banks, justifies the FBF on a daily basis, whether in the banking systems or in the implementation of an interbank infrastructure with the capacity to process transactions in real time and twenty years. -four hours a day.

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