[glenneroo]

Uhm, the EU already has free instant SEPA transfers? I use it regularly, sadly not all EU banks support it (smaller ones sometimes have issues and have to resort to standard oldschool 2-day transfer, but they are also free).

[danelski]

How do you do your groceries with that?

[glenneroo]

With debit cards or cash like everyone else?

[danelski]

Then instant bank transfers didn't really help you with this use case, did they?

[glenneroo]

True, thanks for reminding me that this is about CC replacements :)

But I honestly don't know many people with a CC here, and those who do (myself included), we don't have the same advantages/disadvantages of a CC: no points, no "free" miles, no interest and no possibility to rack up debt like in the US since Visa automatically deducts the full amount from my bank account at the end of the monthly billing period.

[Sharparam]

The Eurozone has free instant SEPA transfers*

Non-Euro countries won't be guaranteed to have it until July 2027.

[direwolf20]

It does but there aren't really any SEPA transfer point of sales. It's too asynchronous. You always use card or cash there. SEPA transfer can sometimes be used when paying for things asynchronously online, and they won't ship the item until they receive the money.

SEPA instant transfers aren't guaranteed instant as they might still be withheld for fraud checks.