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this post was submitted on 09 Sep 2025
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It's actually the same in Europe. You can only instruct someone else to take money out of your account.
I dont think so. As far as i know i can send money to whoever i want when i have their iban number.
Nope. You're telling your bank to tell their bank that you authorize them to withdrawal that amount.
@quick_snail @polle Bull. Shit.
What exactly?
@polle the entire statement regarding authorising another bank to withdraw money.
I was trained as a banker and learned that stuff. I have no desire to do an entire writeup but this stuff should be easy to read up on.
Banks sum up all transactions with another bank, send the net sum (or ask to receive it) and the transaction details to the other bank and that's how it works.
Well you could the wikipedia about sepa its written there. Perhaps it is different for your Country.