The bank transfer is one of the operations that any current account holder carries out with a certain frequency: there are those who are used to doing it directly in the branch and those who, on the other hand, take advantage of the advantages of online transfers.
The two operations, although identical in relation to the outcome – that is, transferring money from one’s current account to that of another person – involve differences, in particular in terms of price.
Bank transfers made at the counter have a cost that can even reach 10 euroswhile i online wire transfers are much cheaper: from 1 euro or a little more, there are also banks that allow you to make wire transfers at no cost.
Find out how to save with online bank transfers
How much does a SEPA bank transfer cost?
A bank transfer is an operation that requires knowledge of the recipient’s account IBAN, as well as his name and a reason, or the reason why money is being transferred to someone.
Il cost of the transfer it is not universal, but is established by the individual credit institution. Usually, when you make a transfer between accounts that belong to the same bank or credit institution, the cost is absent.
Below we have reported the expected costs to make a transfer with two of the most widespread and well-known banks at national level, that is Intesa Sanpaolo and UniCredit.
|COST OF AN INTESA SANPAOLO BANK TRANSFER||UNICREDIT BANK TRANSFER FEES|
As you can see right away, the expected costs in the case of an online transfer or a bank transfer at the counter are quite different, with a net saving in the first case compared to the second.
Discover the best online accounts with free transfer
Difference between SEPA and extra SEPA transfer costs
When it comes to the costs of wire transfers, it is good to remember the distinction between wire transfers SEPA banking and non-SEPA bank transfer, which will surely have a higher cost.
SEPA stands for Single Euro Payments Areatherefore, even if it occurs to a non-Italian current account, but located in this geographical and monetary area, it does not foresee price changes.
Costs, on the other hand, increase in the case of non-SEPA bank transfers, therefore in all those countries that do not fall within the euro payments area: in such cases, pay up to 10% of the total amount to send.
Staying in cost analysis territory, a separate discussion can be made on instant transfersor those that allow the transfer of money from one current account to another in less than 10 seconds.
Given the innovation of this service, the costs of an instant bank transfer, which can be sent at any time (even on the weekend) from your online account (both from your desktop and from your smartphone), will have a higher costwhich in some cases can be as high as that of a bank transfer.
How much does an online transfer cost
Returning to the advantages that can derive from making an online transfer, we have anticipated that, in some cases, it could be a completely free transferat least in the SEPA area.
Using the comparator of current accounts of SOStariffe.it, we have analyzed some online current accounts that can be activated in a few minutes and that give the possibility of not paying any cost to send money to someone by bank transfer. They are immediately visible by clicking on the link below, or by viewing the table below, where some noteworthy ones have been reported.
Activate an online current account with no cost transfer
|CURRENT ACCOUNT NAME ONLINE WITH FREE BANK TRANSFERS||FEATURES AND COSTS|
|My Genius Green at UniCredit||
|Webank online account of Banco BPM||
|online content Credit Agricole||
|Tinaba current account||