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yes i know that. are we going to back to the days where I pay for my groceries by writing a check? you can’t possibly be arguing that ACH and wire transfers ma

• elliekelly 6y ago
  Why wouldn’t ACH make sense for everyday purchases?
  • tempsy 6y ago
    are you asking me why it doesn’t make sense to write a check for every small purchase you make? if the Fed’s faster payment network goes live and makes ACH instantaneous can payments can be done with a QR code or something similar then that is viable but not right now. beyond that, almost no e-commerce store accepts ACH. It also doesn’t benefit the consumer to bother with the hassle of ACH vs card when there’s no discount...you’re just saving the merchant money. Amazon is the only one I can think of.
    • cycomanic 6y ago
      I'm always amazed when talking to US friends how far behind the rest of the world the US is with respect to banking. For a long time friends were telling me they were getting their salary, paying their rent etc. by cheque, when I had been using automatic wire transfers or debits for a long time already. With respect to your comment above, here in Scandinavia (where banks are also atrocious for other reasons) as well as much of Europe, with most of the internet payment processors (like Klarna) you can use wire transfer, debit from the account as well as direct internet banking for online shopping. We also have swish, which is a payment system were you essentially wire transfer money by using the mobile number. That said many people (myself included) also use credit cards for their convenience.