The bank transfers They change from this January 9th. The reason is a new regulation approved by the European Union that seeks to standardize the sending of this type of money.
The ultimate goal is «create an integrated market for immediate transfers» and for this, as the regulation indicates, it is necessary that “operations are processed in accordance with a common set of standards and requirements.” What the new rule does is equate the two main types of transfers that existed until now. The ordinary ones – which arrive within a period of 24 to 48 hours – and the immediate ones – which arrive at the moment, but until now at a cost.
In this sense, users of banking entities will see two notable changes. Firstly, the regulation establishes 10 seconds the time by which a transfer must reach its recipient “regardless of the day or time.” Secondly, and regarding the price, ordinary and immediate transfers must equal their cost.
The next question regarding the application of this regulation is which banks are going to apply it and how they are going to do it.
Which banks are affected by the change in regulations
In recent times, Spanish banks have offered immediate transfers in exchange for a commission for the payer, which was generally a minimum amount. The new norm forces them to adapt.
In practical terms, what the standard says is that Immediate transfers must have the same cost as ordinary transfers. Through the Internet, ordinary transfers were free in most banks.
That is why with the application of the rule – as reported by ABC – the large Spanish banks They will adapt and immediate transfers will be free as ordinary transfers already were.so both will have the same cost as indicated by the rule or, in other words, they will be free.
Transfers that will continue to have a cost
However, it is advisable to consult with the entity how it will apply the regulations since if ordinary transfers already had a cost -or have increased it- they can continue to have it.
In addition to this assumption, there is another case in which banks plan to continue charging for making an immediate transfer. Those that become free are those ordered through online channels, so make an instant payment from the office or by phone will still have a cost for the user.
As this newspaper reported, banks have been adapting their systems and most do not foresee major changes in their policies. The objective of the entities is also to promote online operations, so this change is an incentive for their clients regarding the way they operate.
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