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0 pointsgoralph2y ago0 comments

Is this not possible currently in the US? That’s quite surprising!

0 comments

No, US bank to bank transfers/payments are quite slow, and not commonly used for small transactions. But there are a couple substitutes that are used:

* Zelle is basically better bank transfers and is already supported by many (most?) US banks: https://en.wikipedia.org/wiki/Zelle_(payment_service)

* Random 'third party' money transfer services like Venmo, Cashapp, Paypal, etc.

But similar to messaging in the US, the main issue is fragmentation. There's isn't quite a national consensus like some other countries have.

astrange2y ago

Debit cards can be used for instant payments and are used to eg pay Uber drivers. Or wire transfers.

And Zelle is a bank to bank transfer network, not a third party service.

TulliusCicero2y ago

> And Zelle is a bank to bank transfer network, not a third party service.

That's...what I said? Well, I guess I should've contrasted it better with the old, 'traditional' bank transfer payments.

j / k navigate · click thread line to collapse

0 comments

TulliusCicero2y ago

No, US bank to bank transfers/payments are quite slow, and not commonly used for small transactions. But there are a couple substitutes that are used:

* Zelle is basically better bank transfers and is already supported by many (most?) US banks: https://en.wikipedia.org/wiki/Zelle_(payment_service)

* Random 'third party' money transfer services like Venmo, Cashapp, Paypal, etc.

But similar to messaging in the US, the main issue is fragmentation. There's isn't quite a national consensus like some other countries have.

astrange2y ago

Debit cards can be used for instant payments and are used to eg pay Uber drivers. Or wire transfers.

And Zelle is a bank to bank transfer network, not a third party service.

TulliusCicero2y ago

> And Zelle is a bank to bank transfer network, not a third party service.

That's...what I said? Well, I guess I should've contrasted it better with the old, 'traditional' bank transfer payments.

j / k navigate · click thread line to collapse