Faster payments was mandated by the European Payment Services Directive.

All European countries have it.

Up next: Payment Services Directive 2 - API access to bank accounts. This is going to be interesting.

its still not impelemnted everywhere, in croatia the exchange between banks is happening twice a day, i believe at 12h and 17h.

alot of people here dont like to buy stuff with CC so they transfer the money with internet banking, and also get a discount because that is treated as cash, and if the webshop is with another bank you have to wait to get a confirmation they received the money, or can try to send them transaction confirmation in PDF.

sometimes its anoying when you are ordering something expenensive and have to wait a bit longer because only after your payment do they order it from the distributor.

Any idea why the UK is still allowed to charge so much for outgoing Euro payments? It's reduced a lot, but my UK bank still charges £9 + their poor exchange rate.

Probably because they can. Monzo have said they aren't going to add charges where they don't get charged themselves (such as EU payments currently).

So get another bank. This particular problem does not need regulatory intervention because there are much cheaper options available.

I phoned up my bank and asked them how they calculate their fees and the exchange rate on foreign transactions. Needless to say, they couldn't give me an answer.

Even less that that. Yesterday I tried sending money from Starling Bank to Monzo and it literally took a few seconds.