3 ms·

in practice, no one uses the banks directly to send money like that: we use apps like Venmo / CashApp that take your debit card/bank info and act as an intermed

in practice, no one uses the banks directly to send money like that: we use apps like Venmo / CashApp that take your debit card/bank info and act as an intermediary for sending/receiving money.

petschge 7y ago
A lot of US based startups make a lot more sense to us Europeans in case we move to the US and notice how broken all infrastructure is. Banking still uses cheques, so you have Paypal, Venmo, CashApp and so on. Public transport is bad or even non existent which is why Uber and Lift exist. The programm of over-the-air TV sucks and you get Netflix, HBO, Hulu and so on.
- wolco 7y ago
  Over the air has the newest stuff. Streaming is for yesterday's hit. Uber exists because taxis suck. Cheques are safer and more portable than give me your bank account because you choose where to deposit. Paypal is for websites no stores accept it and doesn't replace a cheque
  - Nition 7y ago
    > Cheques are safer and more portable than give me your bank account because you choose where to deposit. Maybe it's different in the US, but I have a different account number for each of my bank accounts. So I can still choose where I want to deposit someone's money when I give them my account number, by choosing which account number I give to them. And no-one has to go to a bank.
    - wolco 7y ago
      That's true you can give out different account numbers. You can't change that once you give it out though a cheque allows you to decide at the very last moment.
      - mynameisvlad 7y ago
        Is it really that hard to receive the money then transfer it to the right account? Yes, it's an extra step, but you're already doing way more steps to cash a cheque than use a transfer service where you only give an account number and suddenly the money is there. IMO, this sounds like a solution looking for a problem to me.

3 ms·

in practice, no one uses the banks directly to send money like that: we use apps like Venmo / CashApp that take your debit card/bank info and act as an intermed

by samfriedman 7y ago

in practice, no one uses the banks directly to send money like that: we use apps like Venmo / CashApp that take your debit card/bank info and act as an intermediary for sending/receiving money.

petschge 7y ago
A lot of US based startups make a lot more sense to us Europeans in case we move to the US and notice how broken all infrastructure is. Banking still uses cheques, so you have Paypal, Venmo, CashApp and so on. Public transport is bad or even non existent which is why Uber and Lift exist. The programm of over-the-air TV sucks and you get Netflix, HBO, Hulu and so on.
- wolco 7y ago
  Over the air has the newest stuff. Streaming is for yesterday's hit. Uber exists because taxis suck. Cheques are safer and more portable than give me your bank account because you choose where to deposit. Paypal is for websites no stores accept it and doesn't replace a cheque
  - Nition 7y ago
    > Cheques are safer and more portable than give me your bank account because you choose where to deposit. Maybe it's different in the US, but I have a different account number for each of my bank accounts. So I can still choose where I want to deposit someone's money when I give them my account number, by choosing which account number I give to them. And no-one has to go to a bank.
    - wolco 7y ago
      That's true you can give out different account numbers. You can't change that once you give it out though a cheque allows you to decide at the very last moment.
      - mynameisvlad 7y ago
        Is it really that hard to receive the money then transfer it to the right account? Yes, it's an extra step, but you're already doing way more steps to cash a cheque than use a transfer service where you only give an account number and suddenly the money is there. IMO, this sounds like a solution looking for a problem to me.