@bleistift2 - eviltoast
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Cake day: June 2nd, 2024

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  • I suspect what you are calling a wire transfer is not actually the same thing as a SWIFT network wire transfer

    That’s absolutely possible. Whenever I’m researching how to move moneys, I find that there’s a bit of a language barrier. When I say “wire transfer”, I’m trying to communicate a scheme by which I instruct my local bank to reduce the number of Euros in my bank account and somehow instruct the recipient’s bank to increase the number of Euros in the recipient’s bank account by the same amount. Specifically, I’m trying to communicate that there is no credit involved here. No end-of-moth balancing of a credit account, no sending money I don’t actually have.

    I think what I mean is the “SEPA Instant Credit Transfer” as Wikipedia describes it (http://en.wikipedia.org/wiki/Single_Euro_Payments_Area#SEPA_Instant_Credit_Transfer). I am aware that this cannot possibly work with banks outside of SEPA. And these are also free-of-charge, as I said:

    Since 2009 the European Union Regulation No 924/2009 […] regulation Article 1 […] states that an IBAN/BIC transfer within Single Euro Payments Area (SEPA) must not cost more than a national transfer […]. As of 2022, most European banks do not charge private customers for SEPA transfers

    http://en.wikipedia.org/wiki/Wire_transfer#European_Union