> Credit cards aren't free either. The cost (around 2-3% in the US) is borne by the merchant.
In EU, regulation caps interchange fees at 0.2% of the transaction value for debit cards and at 0.3% for credit cards.
> "Free" bank transfers (eg. vemo, SEPA) are typically restricted to consumers, are often part of a bigger banking package, which have fees or minimum balance requirement
A bank that i use has free SEPA transfers, no montly fees and negligible minimum balance reqirements, both for consumer and business accounts.
In EU, regulation caps interchange fees at 0.2% of the transaction value for debit cards and at 0.3% for credit cards.
> "Free" bank transfers (eg. vemo, SEPA) are typically restricted to consumers, are often part of a bigger banking package, which have fees or minimum balance requirement
A bank that i use has free SEPA transfers, no montly fees and negligible minimum balance reqirements, both for consumer and business accounts.