There's no standard in banking whatsoever. Regarding EU. Usually wires are NOT free either. Recently vast majority of the banks adhered to SCT (SEPA credit transfer) which takes not more than 3 days and is completeyl free of charge as well as no external fees (what you send out is what the beneficiary recipient is receiving). By 2011 SDD – SEPA Direct Debit will also be available and also SEPA Credit cards (all EMV chip enabled).
Nonetheless, while US is not willing to adopt the IBAN account form (which should be really) it is understandable they will stick to checks. That's because they dont use IBAN accounts, hence payments to U.S. bank accounts from outside the U.S. are prone to errors of routing. Ideally there will be a standard to which all banks worldwide should adhere.
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