2024-03-01 23:23:25
A new law on transfers affects all bank customers. © imagebroker/Imago
A new law on transfers has been established. This change offers bank customers clear advantages because they save money.
Dortmund – Transfers are made regularly, for example to pay rent or settle bills for craft services. This procedure is also suitable for paying pocket money. A new law now offers bank customers further advantages.
New law for transfers affects all bank customers
Many bank customers choose the “standard” option when it comes to transfers. You transfer your money, which usually arrives in the selected account within one working day. However, if there is a public holiday or a weekend in between, the whole thing can be delayed slightly (read more news regarding finances at RUHR24).
It then takes three to four days for the money to reach the recipient. Bank customers do not have this problem with a so-called real-time transfer. Because as the name suggests, the transfer takes place the moment it is made. The disadvantage: Many banks charge a fee and are more expensive than the “normal” transfer or are not even offered. However, this is regarding to change due to a new law.
New law for transfers: Change offers advantages to bank customers
The EU Parliament has decided that real-time transfers must be offered by all European banks in the future. Extra fees may then no longer apply. People who use this option regularly save money because Commerzbank, for example, currently charges 1.50 euros for this service.
According to the European Parliament, the innovation is intended to ensure that private customers and companies do not have to wait for their money and at the same time increase the security of transfers. The money then reaches the recipient within ten seconds, regardless of the day. But when does the new law apply to transfers?
New law for transfers: When does the change apply
According to the European Parliament, the new rules will apply 20 days following their publication in the EU’s Official Journal. “Payment service providers based in the euro area have 9 months to offer users to receive euro instant transfers and 18 months to offer to send them,” it said.
Bank customers still have to pay fees for the time being. From mid-2025, users will be able to loudly techbook.de Expect all European banks to offer real-time transfers.
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