We have to admit that UK is a little late with bank transfers. However, everything is about to change with immediate bank transfers.
The Bank of UK authorized today the immediate payment system between bank accounts, ie the transfer may take a maximum of 10 seconds between different banks.
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This type of service will be perfect for those who like to shop online or on used websites. How many times will you make an ATM payment and have to send a photograph of the receipt to prove the payment to someone else?
So, with this new measure, just say that the payment is made and if the other person is checking your balance is already the money deposited by you.
Immediate bank transfers will boost online commerce in UK
However, not everything is a bed of roses. The immediate bank transfer system has been authorized by the Bank of UK, but banks still need to join the system.
These transfers will be available every day of the year 24 hours a day. As I mentioned, the transaction will take a maximum of 10 seconds. This new system will not only be available for UK but for all SEPA countries. That is, if a bank in France has joined the same system the transaction delay is such 10 seconds.
Believes this is an important step for the growth of online shopping. There are dozens of times when I sell products online and when I hand them out they make me payment at that time.
After that just pass to my bank account through the smartphone and I can check the payment immediately. Better than that, the payer will not be able to reverse the transaction simply. Details of immediate bank transfers will be referred to in future by banks in UK that join the system.
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