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It costs me $15-$25 to do a bank wire with my credit union, and afaik, that's on the lower end of things compared to banks.
by s5300 5y ago
It costs me $15-$25 to do a bank wire with my credit union, and afaik, that's on the lower end of things compared to banks.
- captn3m0 5y agoFree instant P2P bank transfers in India. Maybe blockchain isn't the only solution.
- _tulpa 5y agoSame in pretty much every sane country
- cookguyruffles 5y agoI think US banking is the outlier here. I've never paid anything like this anywhere in Europe, the vast majority of transactions (for example SEPA) are free, or very close to free.
- vmception 5y agoI’ve found SEPA to be highly overrated. Upon further investigation I learned that Europeans have little experience with cross-border SEPA. Its free but not anywhere near instant (although your conversation was not about speed). The instant version of SEPA exists in a thin patchwork, which might solve the most common use cases of people in the same country using that country’s largest banks. Everything else is pretty much the same as ACH in the US in that it also takes several business days, and is also free.
- cookguyruffles 5y agoMost folk don't even know it exists because it's been the default option in their Internet banking for so long..
- vidarh 5y agoI've never had cross border SEPA take longer than a business day. Don't doubt it can happen, but if you submit before the cutoff and it's not there by end of next business day your bank or the recipient bank are violating the rules.
- secondcoming 5y agoFree, and in at least the UK, virtually instant when transferring between UK banks.
- deleted 5y ago[deleted]
- asah 5y agoAnd many hours delay and only once per day (most banks).
- s5300 5y agoYeah,I'm 8am-3pm M-F only for a wire and they have to call me to verbally verify it before routing. Quite annoying.
- Nursie 5y agoThen you both have terrible banking arrangements.
- s5300 5y agoWelcome to the poverty section of the United States. Would you like to help?
- Nursie 5y agoI'm not in the US, but it seems like you, as a nation, need to get your retail banking system in order. You're behind (by the sounds of things) all of Europe, much of the far east, India, Aus/NZ and a bunch of other places.
- s5300 5y agoYes. Most of us know this. We're not exactly complete idiots. There's this thing called lobbying over here. It means if you have a lot of money, you make the laws. Apparently, those with the money making the laws don't particularly care to do what you've advised. Thank you for your understanding.
- Nursie 5y agoGreat, so it seems like you need to sort your systems out and figure out this democracy thing a bit better. Best of luck with that.