Originally Posted by TCD
I bet that's why Schoenfeld clearly says to buy locally. In Germany (last time I checked his company was located there) a bank transfer costs nothing (read that as 0 € per 100 €) for neither the seller nor the buyer, so it's pretty obviously the best choice.
Not entirely true. Private customers are treated that way by most German banks (so there is really a "free checking account" - something that many American banks advertise, but never actually offer).
Business customers are charged for every single transaction, and that's with evry German bank. There are some that offer "flat rates", but that's only a good deal if you have hundreds of transactions per week - I'm not in that range. I have just changed banks, because I've found one that doesn't charge a monthly fee, and only charges 0,13EUR per transaction (incoming and outgoing transactions). Since this is the lowest cost that I have found in Germany, I have to call it fair.