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Can someone confirm if I understand this correctly? Venmo is what Americans use for small transfers because the US banking system is ridiculously antiquated an
by stephenr 8y ago
Can someone confirm if I understand this correctly?
Venmo is what Americans use for small transfers because the US banking system is ridiculously antiquated and still revolves around paper cheque’s if you want to make a transfer from one bank to another?
- fetus8 8y agoYeah, it's one of the easiest ways to send money back and forth between people.
- stephenr 8y agoI wonder if US banks will ever catch up to the rest of the world in this regard.
- aketchum 8y agoThey have. Look at zelle. I think it's better than venmo because it is a part of the banks Mobile app and instantaneous transfer is the default, while venmo charges for it
- stephenr 8y ago> Look at zelle. That phrase doesn’t mean much to someone outside the US. I looked it up, it’s a thing owned by some US banks (and thus only available to those banks customers? That part isn’t clear). Being better than venmo doesn’t mean much either - in other countries interbank transfers are just something you do via your bank - no third party involved.