Always when it is about payments in the US I understand more and more why fintech startups are so successful in the US. In Germany I don't really see the point.

Always when it is about payments in the US I understand more and more why fintech startups are so successful in the US. In Germany I don't really see the point. Wire transfers and deposit entries are cheap, reliable and they work with every bank. So fintech startups here have a much harder time to explain, what is different about them. BTW. The case what is describe in the article sounds for me like some kind of deposit entry fraud. Something I feared for a while in Germany, because deposit entries are very common for e.g. phone bills. But they seem to be one difference, in Germany you can simply cancel it and get your money back, usually 6 weeks but courts already ruled that this is just the minimum time.