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The American banking system is still basically at the level of the horse and buggy. Inter-bank transfers are next to impossible. Here in Australia, I can just
by beedogs 8y ago
The American banking system is still basically at the level of the horse and buggy. Inter-bank transfers are next to impossible.
Here in Australia, I can just give out my bank account number freely -- the worst you can do to me with that information is send me money.
- glenneroo 8y agoLikewise in most if not all of Europe.
- grkvlt 8y agoI _think_ you could set up a direct debit, for example: http://news.bbc.co.uk/1/hi/entertainment/7174760.stm http://news.bbc.co.uk/1/hi/entertainment/7174760.stm although this was almost ten years ago, i think the protections are still the same.
- stordoff 8y agoFWIW, that's mostly a non-issue because of the Direct Debit guarantee: > If an error is made in the payment of your Direct Debit, by the organisation or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society https://www.directdebit.co.uk/DirectDebitExplained/pages/directdebitguarantee.aspx https://www.directdebit.co.uk/DirectDebitExplained/pages/dir...
- jandrese 8y agoInter-bank (wire) transfers aren't that hard. You just need to ask your bank to do it. Sometimes you have to come in person to do it, sometimes a faxed signature is all you need. I've always been slightly nervous about how easy it is in fact, since anybody can forge a signature and send a fax. The big caveat is that the Fed likes to sit on the transfer for a day or two, or sometimes more. Very annoying if you are on a deadline for the money.