> Waiting in the case of a reasonable savings fund of 100k for way over a month (10k every 4 days in the example I replied to) to be transferred sucks.
That 10k limit is for one shitty company. I don't have those limits because I don't use a shitty company. Does europe not have shitty companies? Different class of shitty, but weren't people unable to access their funds in wirecard because it essentially imploded due to fraud?
> It's not about the interest rates, rather a "peace of mind" thing. I am used to clicking a button in online banking and know that the recipient will have the money, and all of it, in maximum 2 banking days and I don't have to spend mental energy on tracking it, worrying about a physical check being held up or lost in postal service, the recipient taking his sweet time to cash the check...
Maybe other people are different, but I've never experienced a lack of "peace of mind" with any transfer. Every transfer I have done is instantaneous in that both the sending account and receiving account acknowledge the transfer and just put it in a pending status for a day and no transfer I have ever done has failed so whats the big deal?
> IBAN prevents this by having a two-digit checksum, that catches 99% of typos, number swaps and other entry errors. If you still manage to mess up, you have a ten day window for a recall. Direct debits can be reversed for eight weeks.
Interesting, not sure how that works but it does sound a lot nicer than the routing and account numbers we have here.
> Still using physical checks with all their downsides.
I have literally never written a check in my life. Granted, I know older people who still use them but I have no need for them whatsoever so who cares? I pay all my bills digitally and I can venmo friends cash digitally too.
> Direct debit being insecure to the point that someone getting your account data (or card swipe) can raid your bank account with the money being tied up for weeks (SEPA direct debit reversal is instantaneous and fully returns the funds).
I don't think I use that.
> CC "rewards" cost being placed on the merchants (thus raising the CC costs for all customers) instead of being capped like in the EU.
Credit card fees I can basically get entirely back through the reward with a single credit card. Could it be more fare with capped fees, sure and I'd support that policy. As a consumer, I don't care though.
That 10k limit is for one shitty company. I don't have those limits because I don't use a shitty company. Does europe not have shitty companies? Different class of shitty, but weren't people unable to access their funds in wirecard because it essentially imploded due to fraud?
> It's not about the interest rates, rather a "peace of mind" thing. I am used to clicking a button in online banking and know that the recipient will have the money, and all of it, in maximum 2 banking days and I don't have to spend mental energy on tracking it, worrying about a physical check being held up or lost in postal service, the recipient taking his sweet time to cash the check...
Maybe other people are different, but I've never experienced a lack of "peace of mind" with any transfer. Every transfer I have done is instantaneous in that both the sending account and receiving account acknowledge the transfer and just put it in a pending status for a day and no transfer I have ever done has failed so whats the big deal?
> IBAN prevents this by having a two-digit checksum, that catches 99% of typos, number swaps and other entry errors. If you still manage to mess up, you have a ten day window for a recall. Direct debits can be reversed for eight weeks.
Interesting, not sure how that works but it does sound a lot nicer than the routing and account numbers we have here.
> Still using physical checks with all their downsides.
I have literally never written a check in my life. Granted, I know older people who still use them but I have no need for them whatsoever so who cares? I pay all my bills digitally and I can venmo friends cash digitally too.
> Direct debit being insecure to the point that someone getting your account data (or card swipe) can raid your bank account with the money being tied up for weeks (SEPA direct debit reversal is instantaneous and fully returns the funds).
I don't think I use that.
> CC "rewards" cost being placed on the merchants (thus raising the CC costs for all customers) instead of being capped like in the EU.
Credit card fees I can basically get entirely back through the reward with a single credit card. Could it be more fare with capped fees, sure and I'd support that policy. As a consumer, I don't care though.