In the UK it takes a few seconds. And works 24/7.

Your response sounds a bit defensive of the US, my intention is not to start a tribe war and I apologise if I have done that. There are plenty of things that the US does well that Europe does not, if that's any consolation.

Paypal exists in the EU as well but this is a layer on top of a banking system and not quite a "native" solution. I would like a "native banking" way to send and receive money when I am both in the EU and the US :)

Check SEPA Instant Credit :)

> Sure, and that takes 24 hours to be processed (business days only)

There's SEPA instant now (that starts to be ubiquitous).