alt Hacker NewsI am not sure if people are aware, but with SEPA you can transfer money to other peoples account without any fee (depending on where you live of course).
Only downside is that you have to reveal your account data online.
I know a guy who runs an online shop with a single product and it is a static website saying "Transfer 12 € to the following bank account with the following subject and your name/address" — apparently this works quite well since the mid 90s. The website still uses frames for its layout and has animated gif flags.
SEPA is not free - it's just often free for consumers (and likely until your bank considers your usage patterns to be 'too business like')
and it can't be free.. even though the systems might have no further marginal cost per transaction, banks still need to do anti-money laundering checks, and someone's gotta pay for that