5 hours ago, Skeptic7 said:

Nothing cut off here, nor was anything meaningful in the previous chart. Still think it was too soon?

Thar she blows! 

 

oh I see now, the price has dropped down to twice what it was this time last year

On 6/22/2018 at 6:12 AM, phycokiller said:

[…] but how are transfers in the EU done for free? they still require banks, servers, electricity, people to administer it etc. I presume it must be subsidized by transfers over 50,000 or paid for by yearly bank fees or the like

I would imagine that transfers below 50,000 EUR are fully automated and thus the price of doing these are negligible, i.e. the cost would be akin to the cost of sending an email, which none of us pay for.

 

Of course there is some cost to running and maintaining the system, how they pay for that probably depends on the bank/financial institution: A common strategy is to charge corporate customers for their services, e.g. PayPal allow payments to friends and family free of charge, but if you sell stuff and accept PayPal, you will have to pay fees for receiving payments. Likewise with Krungthai Bank, as a private customer I can transfer 5 million baht/day free of charge to whatever (Thai) bank I desire, but as a corporate customer, transferring to other (non-Krungthai) banks starts at 25 baht.

8 hours ago, lkn said:

I would imagine that transfers below 50,000 EUR are fully automated and thus the price of doing these are negligible, i.e. the cost would be akin to the cost of sending an email, which none of us pay for.

 

Of course there is some cost to running and maintaining the system, how they pay for that probably depends on the bank/financial institution: A common strategy is to charge corporate customers for their services, e.g. PayPal allow payments to friends and family free of charge, but if you sell stuff and accept PayPal, you will have to pay fees for receiving payments. Likewise with Krungthai Bank, as a private customer I can transfer 5 million baht/day free of charge to whatever (Thai) bank I desire, but as a corporate customer, transferring to other (non-Krungthai) banks starts at 25 baht.

yes, I would guess theres a yearly fee with krugthai bank as well, I guess banks will use the cheapest option available, so will be interesting to see how it all pans out