A bank transfer is the most commonly used payment method in Europe, with millions of transactions being completed every day.
Advantages
- There is no use of cash or cheques: the funds are transferred electronically, directly from one bank account to another.
- Payments made between European Union countries are treated as national bank transfers, meaning there are minimal or no expenses.
What you should know
The price of a bank transfer varies from bank to bank and from country to country, and it is possible that in some countries the fees related to a service will vary with amount.