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0 pointsraverbashing2y ago0 comments

If the situation was so fine and dandy you wouldn't still have $30tri of cheque transactions

"ACH takes a few days" Americans in denial about this and their "open market for tax filing solutions" is interesting

0 comments

I don’t know how this devolved into an America bashing thread but it’s worth noting that cheque transactions have other causes. You could make the same argument about the popularity of cash as a payment method abroad.

ACH sucks but Zelle is at least second party; every major bank supports it and I don’t need any details to transfer money beyond their phone number.

happymellon2y ago

I didn't mean for this to be an American bashing thread I'm just surprised that it's taken this long.

Zelle is not universal, I think it's around 20% of banks/credit unions don't support it, and has high fees associated with it. It's good to see the Fed doing something about it.

lotsofpulp2y ago

I have never seen an fee associated with transferring money with Zelle.

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raverbashingOP2y ago

Well, cash is cash, I don't think its use is mainly due to lack of technology access (for the most part)

Apart from cashier's cheques (which also are pretty rare in places with functioning quick payment systems) what do you think are the other uses of cheques?

lotsofpulp2y ago

I did not say it was fine and dandy, but it has been pretty easy to instantly send and receive money in the US for years now.

j / k navigate · click thread line to collapse

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cuuupid2y ago

ACH sucks but Zelle is at least second party; every major bank supports it and I don’t need any details to transfer money beyond their phone number.

happymellon2y ago

I didn't mean for this to be an American bashing thread I'm just surprised that it's taken this long.

Zelle is not universal, I think it's around 20% of banks/credit unions don't support it, and has high fees associated with it. It's good to see the Fed doing something about it.

lotsofpulp2y ago

I have never seen an fee associated with transferring money with Zelle.

1 more reply

raverbashingOP2y ago

Well, cash is cash, I don't think its use is mainly due to lack of technology access (for the most part)

Apart from cashier's cheques (which also are pretty rare in places with functioning quick payment systems) what do you think are the other uses of cheques?

lotsofpulp2y ago

I did not say it was fine and dandy, but it has been pretty easy to instantly send and receive money in the US for years now.

j / k navigate · click thread line to collapse