I’m trying to figure out how to send $6000 from my Chase bank account to my wife’s Chase account for our income tax payment and the answer is to either:
- Write a free paper check
- Send $2000 for 3 days through Zelle
- Pay $25 for a wire transfer
America 
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Thijs Niks Retweeted Thijs Niks
In other countries, transferring money between bank accounts is instant and freehttps://twitter.com/thijsniks/status/1263730087549005824 …
Thijs Niks added,
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Replying to @thijsniks
Completely free probably not for long. But definitely cheap. In Latvia Inhave to pay 0.4EUR for instant transfer up to 15kEUR (SEPA)
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Replying to @aldispaegle
Interesting! I haven’t seen many other European countries do that, given that the ECB only charges €0.002 per transfer
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Replying to @thijsniks
For very long time banks ir Latvia were afraid to charge much for payments, but negative rates pushed to increase fee revenue. And anyway AML/KYC, IT infra cost something. I prefer to pay nothing, but 0.4 does not sound like a robbery.
1 reply 0 retweets 1 like
There are definitely costs! Most other banks seem to cover them through monthly account fees, now that net interest margin is negative
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