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There are newer services like Revolut proving that it can be done. All you need is somebody's phone number and the transfer is instant and with no taxes. You c
by bad_user 7y ago
There are newer services like Revolut proving that it can be done.
All you need is somebody's phone number and the transfer is instant and with no taxes. You can also exchange currency at the interbank exchange rate during the week. And transferring that money to your local bank account is also free of taxes.
Not sure if Revolut will last, but I've been very happy with it.
- manicdee 7y agoAnd then there’s PayID in Australia: “pay anyone using their phone number”. Only the people setting up the processing system decided that all the security required for Visa/MasterCard processing was an obstacle and they didn’t think to implement rate limiting on their facility that provides account details in response to a phone number query. https://www.itnews.com.au/news/aussie-banks-warn-customers-after-fresh-payid-data-breach-529938 https://www.itnews.com.au/news/aussie-banks-warn-customers-a... In this story they refer to a “spike” in queries to the database. What actually happened is that someone tried querying every mobile phone number in Australia.