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Canadian here. This sounds like Interac eTransfer, which is available to any person sending/receiving money where the endpoints are Canadian banking institution
by jperras 6y ago
Canadian here. This sounds like Interac eTransfer, which is available to any person sending/receiving money where the endpoints are Canadian banking institutions (all of them, I guess?).
We've had this since 2003.
- thinkloop 6y agoE-transfer seems like what the American solution would have been - private banks integrating between themselves - whereas this fed solution seems like what Canada would have typically come up with. In fairness though, Canadian banks are so few and heavily regulated they can almost be considered government.
- zymhan 6y agoThis has been such an ongoing issue in the US that a massive industry has sprung up to fill the void for "instant transfers". Paypal, Venmo, Apple/Google Pay, Square Cash, etc are all because the US financial transfer system is hopelessly outdated.
- deleted 6y ago[deleted]
- peteretep 6y ago> We've had this since 2003. As much fun as it is to come up with Canadian supremacy, _everyone_ except the Americans has had this for a long time.