2023-04-22 06:09:49
Guide-epargne.beEurope wants instant payments, where money is in the recipient’s account after just seconds, to become the norm and to cost as much as ordinary transfers. But until then, various systems will remain common. Below, Guide-epargne.be provides you with an overview.
Days to seconds
In the past, it took 1-3 days for the money from a transfer made from the originator’s account to reach the beneficiary’s account, especially if the latter was a customer of another bank. Furthermore, this transaction could only be carried out during bank opening hours. Anyway, this was impossible on weekends and holidays.
Since 2019, instant payments are also possible in our country if they are made from a Belgian account and end up in a Belgian account. The money is in the recipient’s account within seconds, even if the recipient holds it with another bank or if the payment is made in the evening or at the weekend.
Pipe: Many banks offer free current accounts (including payment and credit cards). Others go even further and even provide compensation when you use their electronic payment system. But which of the proposed formulas are really free? And are these services in their own right?
The advantages/disadvantages of instant payments
Without a doubt, instant payments have advantages for consumers. However, there is also a drawback associated with it. As soon as you confirm them, they will be irrevocably gone and you will no longer be able to correct them directly.
In order to allow instant payments, both the originator’s bank and the beneficiary’s bank must be equipped. This is the case for almost all banks in our country. However, a few banks still use the old system, after which they can keep the money in-house for a bit longer.
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What about the major banks in our country?
BNP Paribas Fortis charges you $0.60 to make an instant payment. Incoming instant payments are free though.
KBC performs all instant payments from its customers free of charge provided that they are introduced electronically by the principal. If you have them processed through the agency, you will have to pay 6.05 euros per unit.
FromINGinstant payments are also free.
This is also the case on the Beats Star and Private accounts of Belfius. For customers with a Beats New account, 2 instant payments per month are included in the price of the pack. Beyond this package, they cost 1.25 euros per unit. Belfius also charges 1.25 euros per instant payment on its other payment accounts. An instant payment made at the branch costs 6.05 euros.
FromSilverinstant payments are free if they are introduced electronically by the customer.
Near CrelanInstant Payments are temporarily suspended however.
The above rules apply to transactions made from private accounts. Other rules may apply to business accounts.
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