The EU has recently reduced fees for one of the biggest instant payment systems of the world (SCT inst reaches the Eurozone's 350M residents). Compare the quality of that to a wire or to a ACH transfer.
EU is also ahead with security. PSD2's requirements go further than US requirements, and they are also ahead in the magnetic swipe card phaseout.
Wise and Revolut, two companies which brought a lot of innovation to international money transfer, were founded in the EU as well (since 2020 not EU companies any more).
Of course, all of this doesn't mean that the average EU bank doesn't suck. But I heard worse of the US.
The EU has recently reduced fees for one of the biggest instant payment systems of the world (SCT inst reaches the Eurozone's 350M residents). Compare the quality of that to a wire or to a ACH transfer.
EU is also ahead with security. PSD2's requirements go further than US requirements, and they are also ahead in the magnetic swipe card phaseout.
Wise and Revolut, two companies which brought a lot of innovation to international money transfer, were founded in the EU as well (since 2020 not EU companies any more).
Of course, all of this doesn't mean that the average EU bank doesn't suck. But I heard worse of the US.