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If you take away profits from banks for processing your transactions it is called socialism?

Half trolling.

Single Euro Payment Area wire transfers are always free, by the law.

Naturally banks need to make profit, but it is prices little bit more transparently as monthly fees.

>always free, by the law

Actually, the law is that SEPA transfers cannot cost more than a national transfer.

National transfers happen to typically be free.

No need to be flippant, it IS socialism. As in, the payment network ought to be socialized. The opposite being privatized.