I made my first IBAN transfer this week to put a deposit on a holiday apartment in Italy. [Side issue: Why does the 19th generation photocopy indemnity form that the bank got me to sign refer solely to fax instructions given that all my instructions were by email?].
The amount was debited from my current account on Tuesday 3rd May. I was planning on emailing the receipient that evening to advise them to look out for the lodgement at their side, but I came home to find email confirmation from Italy that they had already received the funds that day! Are IBAN transfers instantaenous? If so, can I make IBAN transfers to Irish accounts to get round the 3-day clearing period?
The amount was debited from my current account on Tuesday 3rd May. I was planning on emailing the receipient that evening to advise them to look out for the lodgement at their side, but I came home to find email confirmation from Italy that they had already received the funds that day! Are IBAN transfers instantaenous? If so, can I make IBAN transfers to Irish accounts to get round the 3-day clearing period?