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> But the vast majority of transactions are still between customers of different banks, and there's not much reason for a bank to process a competitor's payment
by bpicolo 9y ago
> But the vast majority of transactions are still between customers of different banks, and there's not much reason for a bank to process a competitor's payment quickly
But they're doing exactly this now with Zelle.
- kerkeslager 9y agoInteresting, I hadn't heard of them and I don't know enough about their business model to comment.
- xur17 9y agoZelle sounds great, and I really want it to work, but my experiences with it so far have been really frustrating. 3 separate experiences: 1. My friend was sending me $750, and had to structure it as 4 separate payments each 24 hours apart due to some sending limit that either Zelle or his bank imposes. 2. I sent my brother money, and for whatever reason he had trouble accepting the transfer, so I had to resend it a week later when it failed. 3. Someone sent money to me, and it was my first time using Zelle, so I had to login to my bank after clicking a link in a text. But after logging in, nothing happened... It didn't tell me where the funds went, and they weren't in my account. 3 days later they magically showed up. I think the transaction was pending??