As someone who has just moved to the US from Australia, all I can say is: about time. Back home I'm used to being able to transfer money to anyones bank account

As someone who has just moved to the US from Australia, all I can say is: about time. Back home I'm used to being able to transfer money to anyones bank account with no fees, and with the funds arriving the next day. Coming to the US has seen every check I cash "held" for days, and $25 fees for having the gall to transfer money out of my account without using a check. Paying rent takes at least a week, as the "online transfer" in internet banking is a check sent by the bank! I understand now why PayPal was such a big deal when it came out. (Disclaimer: I bank with Bank of America, and am waiting with baited breath for BankSimple)