Just to clarify a detail, SEPA bank transfers are not instant yet and until very recently could take 6 days, even between banks in the same country and small amounts.
In Sweden there is only a single bank in the entire country that has proper SEPA instant support. Some banks still charge extra for it as well.
My own bank required some coercion before they would let me send money to my European friends (to pay for shared travel expenses).
> My own bank required some coercion before they would let me send money to my European friends (to pay for shared travel expenses).
Hence the new legislation to make it mandatory next year.