2023-12-05 17:34:10
The free instant transfer will soon be offered by all French banking establishments. The latter are constrained by a future law from the European Union. The French should be able to benefit from it from October 30, 2024.
In France, money transfers from individual to individual take a short period of time, which can, in the case of a weekend followed or preceded by a public holiday, exceed 72 hours. Unless you pay for the operation so that they are instantaneous, for a commission, from 80 cents to 1 euro depending on the banks, regardless of the amount transferred. It is because of these additional (and crippling) costs that instant payments are not popular in France: in 2022, these transfers which take less than 10 seconds, regardless of the time or day of the year , represented only 11% of total euro transfers made in the EU.
This will soon be ancient history: a European regulation currently being adopted must oblige all banking establishments to offer this service free of charge to their customers. As is already the case in many countries. The Commission’s proposal also aims to “free up” this money in transit through the financial system, almost 200 billion euros every day, for consumption or investments.
According to our colleagues at Parisianthe procedure is coming to an end: the deputy director of studies of the Banque de France Julien Lassalle indicates that the final version of the text must be signed by the Parliament and the European Council in this month of December, or at the very beginning of 2024. Once the text is in force, banks will have a period of six to twelve months to apply it and therefore offer free service to their users.
Even the Bank of France is for it!
Among the French people interviewed in the TF1 report at the top of this article, many are seduced by this prospect: “It’s faster, the beneficiaries get them faster”said one of them. “This made it possible to go faster with operations without paying anything,” admits another. Paradox: the Bank of France, too, is campaigning for this free service. “Between individuals, the advantage is that you can immediately check that you have received the money in your account. It’s a real security lever”she said in a press release.
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Without waiting, some banks already offer instant transfers for free, most often online banks. And, each time, the success of the measure is there. “More than 80% of our transfers today are made in near real time. So customers have massively adopted this new payment method”, explains to TF1 Xavier Prin, marketing director for Boursobank. To see free access become generalized to all banks, we will therefore have to wait a little longer, on October 30, 2024 to be exact.
The editorial staff of TF1info | Video report Charles Diwo, Mathilde Guenegan, Antoine Janon
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