SEPA transfers finally arrived in Andorra. The local banks apply it since tuesday.
Here is the typical cost though :
* below 6000 € moved = 69 € fixed fee
* above = 35 € + 0.5%
Basically, they take into account the geographical and regulatory appliance of SEPA but zero efforts on fees. I know for a fact, that this behavior also happens at banks of other countries (in Europe and bordering). Not an isolated case.
I’m really really tired of the banking monopole and truely hope the cryptos will put down this supremacy through larger adoption. I dislike to be robbed and bank employees don’t perform duties at night neither during weekends, nor in a timely manner “between 5 to 30 minutes” is the money from A to B (most of the time, when the network is not congested, outside bubble period) : poor manual workers & backend ! So 20th century
As a comparison, here are typical costs of a few major fiat to Bitcoin exchanges (to the critics, some are dully regulated with EU licence, in Luxemburg, or New York)
NB: SWIFT transfers are missing, likewise at Bitstamp, 0,09% (min 15) on deposits and free withdrawals
This stage of acquiring and cashing out Bitcoin is also cheaper than card handlings (1% at withdrawals back)
Please consider Bitcoin/cryptos deposits (then immediatly converted), even Bitcoins collateral (no conversion) enabling trading, for those who dare to take the risk of staying invested.
I know that I will review favorably the brokers who will offer this possibility in the future