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It is dramatically easier to send someone a bank transfer in Europe (and I'd imagine, the rest of the world) than it is in the US. All you need is the recipien
by _rknLA 8y ago
It is dramatically easier to send someone a bank transfer in Europe (and I'd imagine, the rest of the world) than it is in the US. All you need is the recipient's IBAN (and sometimes BIC, which is usually already in the IBAN), and boom, you can initiate a transfer from your bank to theirs, for free. It blows my mind that banks in the US still haven't figure out how to do this.
- louisswiss 8y agoIt blows my mind that you think it's a matter of "can't" over "don't want to"...
- true_religion 8y agoDo you really just need one number to initiate transfers in Europe? US banks do have IBANs, but you still need an account number in order to finish up the process.
- nik736 8y agoIn my online banking account I type in a name, the IBAN, the amount and optionally a description. That's it.