Many French banks charge for this service, unlike traditional transfers, which are generally free. This may explain the delay compared to other European countries.
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In France, the use of instant transfers, which allow beneficiaries to receive the money transferred in less than 10 seconds, increased by 84% in 2023, now representing more than 6% of transfers, the Banque de France announced on Tuesday, September 10. The country is following, with a delay, the European trend. More than 16% of transfers were instant transfers in December 2023, according to the European Central Bank (ECB), a figure that has doubled in three years.
Many banks in France charge for this instant transfer service, unlike traditional transfers, which are generally free and take much longer to receive. But starting next year, they will be required to offer instant transfers at the same rate as traditional transfers. A European regulation was adopted in February to this effect.
The bank card remains the preferred non-cash payment method for the French, details the Observatory for the Security of Payment Methods (OSMP) of the Banque de France, which produced this data. Six out of ten non-cash payments were made by this means last year, a share that has been increasing since 2022 (+1.8%).
