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In Europe credit cards are very rare so bank accounts are usually the target instead. In Europe it's also practical to send wire transfers online without going

In Europe credit cards are very rare so bank accounts are usually the target instead. In Europe it's also practical to send wire transfers online without going to a branch, unlike the US. Getting your bank accounts emptied sucks much more than having someone open a credit card in your name.

harryh 9y ago
You can send wire transfers online in the US with most banks FWIW.
- ryanlol 9y ago
  Unless you already send wires regularly, they'll tell you to go to a branch once you click send.
  - sib 9y ago
    Not sure what bank you are working with, but that is not my experience (as a US citizen & resident). I have sent both domestic and international wires completely online.
    - ryanlol 9y ago
      > I have sent both domestic and international wires completely online. Were these wires to a company that receives lots of similar wires? Do/did you have a history of sending wire transfers? Were any of these wire transfers a significant chunk of your account balance? All of these things matter. In the US the average person is simply far more likely to be sent to the branch when wiring $10k than in EU.
- krinchan 9y ago
  On the other side though, EU wire transfers within SEPA cannot cost more than a domestic transfer and overall the domestic fees are insanely cheap, if not free. In the USA, wire transfers average $10-25 on the outbound. Inbound, domestic wire transfers are often free, but inbound International transfers can run you $15. This fee structure is why you see Vimeo and Square Cash (and PayPal before those) become so popular.
rypskar 9y ago
>>In Europe credit cards are very rare I think we most be from different parts of Europe. Where I live it is hard to avoid getting one or more credit cards
- Swizec 9y ago
  In my experience of living on both continents: European credit cards are much more like debit cards in the US and US-style credit cards are super rare. Everyone I know in Europe with a “real”credit card just has an Amex.
  - corin_ 9y ago
    Don't try to generalise banking/credit cultures across Europe, some countries may be the same as each other but there's a wide variety. According to https://merchantmachine.co.uk/visa-mastercard-amex/ https://merchantmachine.co.uk/visa-mastercard-amex/ there are very few places in Europe where AmEx is #1 for credit cards (and, being from the UK, I'm actually surprised to see UK as one of those countries... I would have bet money on Visa/Mastercard having higher market share than AmEx here, even for credit cards alone). From personal experience: what kind of cards (both debit vs credit, and what network they're on) varies massively in different EU countries.
    - Swizec 9y ago
      I had a European Visa. It was very different than my US Visa. In the US it collects points and cashback and you can magically go above the limit if you have money on your checking account. You have to do really really crazy stuff to get a transaction rejected. It gives you insurance for car rentals and concierge services for things I never considered. In Europe I had a Visa and a MasterCard. No points, no cash back. Couldn’t go over the limit, forced to pay everything off every month. If you don’t, card is blocked. In the US you can (often?) pay off as little as $25 on a massive CC debt and there’s a lot of interest on what you don’t pay off. I didn’t have any interest in Europe, it just stopped working if I didn’t pay it off next month. From what I can tell, most Americans wouldn’t recognize my European Visa or MasterCard as a credit card. It behaves like a half step between debit and credit. Are other cards in Europe closer to the American version?

harryh 9y ago

You can send wire transfers online in the US with most banks FWIW.

ryanlol 9y ago
Unless you already send wires regularly, they'll tell you to go to a branch once you click send.
- sib 9y ago
  Not sure what bank you are working with, but that is not my experience (as a US citizen & resident). I have sent both domestic and international wires completely online.
  - ryanlol 9y ago
    > I have sent both domestic and international wires completely online. Were these wires to a company that receives lots of similar wires? Do/did you have a history of sending wire transfers? Were any of these wire transfers a significant chunk of your account balance? All of these things matter. In the US the average person is simply far more likely to be sent to the branch when wiring $10k than in EU.
krinchan 9y ago
On the other side though, EU wire transfers within SEPA cannot cost more than a domestic transfer and overall the domestic fees are insanely cheap, if not free. In the USA, wire transfers average $10-25 on the outbound. Inbound, domestic wire transfers are often free, but inbound International transfers can run you $15. This fee structure is why you see Vimeo and Square Cash (and PayPal before those) become so popular.

rypskar 9y ago

>>In Europe credit cards are very rare I think we most be from different parts of Europe. Where I live it is hard to avoid getting one or more credit cards

Swizec 9y ago
In my experience of living on both continents: European credit cards are much more like debit cards in the US and US-style credit cards are super rare. Everyone I know in Europe with a “real”credit card just has an Amex.
- corin_ 9y ago
  Don't try to generalise banking/credit cultures across Europe, some countries may be the same as each other but there's a wide variety. According to https://merchantmachine.co.uk/visa-mastercard-amex/ https://merchantmachine.co.uk/visa-mastercard-amex/ there are very few places in Europe where AmEx is #1 for credit cards (and, being from the UK, I'm actually surprised to see UK as one of those countries... I would have bet money on Visa/Mastercard having higher market share than AmEx here, even for credit cards alone). From personal experience: what kind of cards (both debit vs credit, and what network they're on) varies massively in different EU countries.
  - Swizec 9y ago
    I had a European Visa. It was very different than my US Visa. In the US it collects points and cashback and you can magically go above the limit if you have money on your checking account. You have to do really really crazy stuff to get a transaction rejected. It gives you insurance for car rentals and concierge services for things I never considered. In Europe I had a Visa and a MasterCard. No points, no cash back. Couldn’t go over the limit, forced to pay everything off every month. If you don’t, card is blocked. In the US you can (often?) pay off as little as $25 on a massive CC debt and there’s a lot of interest on what you don’t pay off. I didn’t have any interest in Europe, it just stopped working if I didn’t pay it off next month. From what I can tell, most Americans wouldn’t recognize my European Visa or MasterCard as a credit card. It behaves like a half step between debit and credit. Are other cards in Europe closer to the American version?