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0 pointscowsandmilk3y ago0 comments

> ordinary banking customers can't use ACH to send money to each other.

This is just because you chose a crappy bank. My bank supports it via online banking, but I admit not all do.

https://www.navyfederal.org/services/transfers/ach.html

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I don't think any of the top 5 largest banks in the US support consumer ACH sending. So you can't really expect it to be available when you want to receive money from someone.

In Europe, free bank transfers are mandatory. You literally can't be a consumer bank and not offer this functionality. The transfers have also become immediate and 24/7 with the latest SEPA upgrade within the Euro zone.

(Also it seems to me that US bank account numbers are unsafe in a way that European accounts are not. I have no qualms about sharing my Finnish bank account number with anyone, even in public, since there's no way to use just the number to extract money. But the US system seems to be full of leaky access points that makes this a bad idea.)

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pavlov3y ago

I don't think any of the top 5 largest banks in the US support consumer ACH sending. So you can't really expect it to be available when you want to receive money from someone.

j / k navigate · click thread line to collapse