4 ms·

You´ll be finding out I suspect. No idea how it is in Ireland, but in most of the EU, digital transfer between banks and countries is completely seamless. I ca

by neffy 7y ago

You´ll be finding out I suspect. No idea how it is in Ireland, but in most of the EU, digital transfer between banks and countries is completely seamless. I can transfer money to family members accounts in different banks in the same country in a couple of minutes, and to another country in a day or two. I haven´t used a physical cheque since I moved back from the US.

qaq 7y ago
The transfers thing yes (although it's cultural to an extent). The Clearing House's Real Time Payments network has launched in Jan. but people are not that used to products using it. On security side Chase's security spend dwarfs even largest security firms. If I remember correctly they spend on the order of 4 billion per year on security which among other things allows them to be running world class security team.
- Denvercoder9 7y ago
  Expensive security and good security are two entirely different, often uncorrelated, things.
  - qaq 7y ago
    In a market where competent candidates start at 300K+ you can't hire a good team unless you a) have resource b)are actually willing to pay for talent. Chase actually has a very competent team. I have doubts there are many (any?) EU banks who's team is on par with Chase.
    - neffy 7y ago
      Yes, well, so the way it is in banking if you don´t have a competent security team, you won´t be in business for very long. And banks in general, everywhere and anywhere, have been in the business of security for a very long time indeed. I´m sure American banks have very competent teams. So do the Europeans. Behind the scenes they all also tend to collaborate quite a lot in this area at least.
      - qaq 7y ago
        " if you don´t have a competent security team, you won´t be in business for very long" oh that what logic would have you believe and yet it very far from reality.
permatech 7y ago
Moving money between accounts is trivial in the US, all you need to know if the routing and account number...

by neffy 7y ago

qaq 7y ago

The transfers thing yes (although it's cultural to an extent). The Clearing House's Real Time Payments network has launched in Jan. but people are not that used to products using it. On security side Chase's security spend dwarfs even largest security firms. If I remember correctly they spend on the order of 4 billion per year on security which among other things allows them to be running world class security team.

Denvercoder9 7y ago
Expensive security and good security are two entirely different, often uncorrelated, things.
- qaq 7y ago
  In a market where competent candidates start at 300K+ you can't hire a good team unless you a) have resource b)are actually willing to pay for talent. Chase actually has a very competent team. I have doubts there are many (any?) EU banks who's team is on par with Chase.
  - neffy 7y ago
    Yes, well, so the way it is in banking if you don´t have a competent security team, you won´t be in business for very long. And banks in general, everywhere and anywhere, have been in the business of security for a very long time indeed. I´m sure American banks have very competent teams. So do the Europeans. Behind the scenes they all also tend to collaborate quite a lot in this area at least.
    - qaq 7y ago
      " if you don´t have a competent security team, you won´t be in business for very long" oh that what logic would have you believe and yet it very far from reality.

permatech 7y ago

Moving money between accounts is trivial in the US, all you need to know if the routing and account number...