So I made a transfer from my bank in Cyprus to my revolut account just to test it. I found out that my Cypriot bank charged me extra 5eur for transaction charges. Is this normal?
SEPA rules say that transaction charges should be identical to domestic transfers. Does your bank make the same charge to local Cypriot transfers?
Not sure of its charges but will investigate that.
It’s ridiculous that each bank (within the same country) has its own charges and commissions.
And there is no standard report for it so it’s impossible to compare charges of banks.
And for some banks I couldn’t even find the charges online (the bank I used).
And they also change every year the charges and notify you with a massive email.
It’s impossible to keep track and compare.
Welcome to the “dictatorship” of the financial market