SEPA is far superior to what is being used in the US and much better regulated.
1. There are no intermediary banks
Whatever
2. Each bank has 24h(weekends excluded ofc) to process your transfer, so you have your cash in 48h max(i had transfers that took 1-2h)
Sadly it's usually 3+ open business days. Never had less than a day.
3. SEPA transfers cant cost more than domestic transfers, which is usually 0 fees
etc.
True
now with fast track payments in uk most bank transfers are done in minutes not hours anymore