4 ms·

> The reality is the US is decades behind the state-of-the-art in banking and pretty much none of the issues that are relevant to US citizens are relevant anywh

by grecy 9y ago

> The reality is the US is decades behind the state-of-the-art in banking and pretty much none of the issues that are relevant to US citizens are relevant anywhere else in the world. Sending money to someone else's bank account within minutes is pretty much a solved problem, for anyone who isn't living in a 70s-era cheque-based world like the US banking system. Can confirm. I've spent months in multiple Southern-African countires who all have chip-n-pin, instant bank transfers etc. Namibia, Botswana, Lesotho, Mozambique, etc make the USA look like the dark ages when it comes to banking

joering2 9y ago
Honestlyntheu dont make them dark ages. Usa is in dark ages of customer finances services. I travel to europe extensively and on my trip to what most people dont even know a country name Poland, in 2012 they had near-field contact debit and credit banks. All card use them! When i gave them my swipe credit card a clerk couldnt stop but mention he hasnt seen one in probably five years. I told him within few years USA will switch to chip cards, to what he told me they had those circa 2010. I seen friend using near field card it was a tap of a card to the reader (no sliding no alignments) in literally 0.8 seconds his card got read and authorized. Within seconds with his personal settings he got text message confirming purchase. We then went to ATM cause he owned me money. I said we probably need bank for that kind of amount. He just smiled at me and withdrew $8,000 worth of local currency (PLN) from an ATM!! Just like that. Meanwhile just yesterda for mothers day Bank of America just again block my debit card “due to suspicious activity” despite the fact i been using this specific BOA ATM on my street for last five years, and was taking only $350 usd. I called up and told them few months ago i raised up limit to your max of 1,500. I was explained due to my own security thos limit is reset every 6 months.

by grecy 9y ago

joering2 9y ago

Honestlyntheu dont make them dark ages. Usa is in dark ages of customer finances services. I travel to europe extensively and on my trip to what most people dont even know a country name Poland, in 2012 they had near-field contact debit and credit banks. All card use them! When i gave them my swipe credit card a clerk couldnt stop but mention he hasnt seen one in probably five years. I told him within few years USA will switch to chip cards, to what he told me they had those circa 2010. I seen friend using near field card it was a tap of a card to the reader (no sliding no alignments) in literally 0.8 seconds his card got read and authorized. Within seconds with his personal settings he got text message confirming purchase. We then went to ATM cause he owned me money. I said we probably need bank for that kind of amount. He just smiled at me and withdrew $8,000 worth of local currency (PLN) from an ATM!! Just like that. Meanwhile just yesterda for mothers day Bank of America just again block my debit card “due to suspicious activity” despite the fact i been using this specific BOA ATM on my street for last five years, and was taking only $350 usd. I called up and told them few months ago i raised up limit to your max of 1,500. I was explained due to my own security thos limit is reset every 6 months.