In 10 seconds you can make a bank transfer within the EU

The European Parliament voted to support the introduction of instant bank transfers in the European Union. All transfers in euros will be completed within 10 seconds at any time of the day.

The new norm will also affect those member countries EU, where the euro is not the national currency, for example, Poland. True, they will require a longer period to introduce the innovation and an exception will be made for transfers carried out outside working hours,tells D.W. At the same time, it will be prohibited to charge more commission for instant transfers than for regular ones.

The new rule will come into force 20 days after official publication. Financial institutions within the EU will have 9 months to prepare and 18 months to connect the instant transfer system.

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