4 ms·
In europe, they are a bank which means that deposits are insured In any case, evidently Paypal has been more stable than banks. There's a real need for digita
by seydor 3y ago
In europe, they are a bank which means that deposits are insured
In any case, evidently Paypal has been more stable than banks.
There's a real need for digital payments and none of the regulatory frameworks in europe or america take that seriously. So people will keep flocking to those easy to use ubiquitous services
- madsbuch 3y agoIn Europe you have SEPA. That insures that you can send EUR between all European banks instantly for free.
- teetertater 3y agoReceiving SEPA is not instant however, it usually takes 24 hrs or longer in case of weekends. When I lived in Canada I really took e-transfer for granted and was surprised to learn it's not a thing in other places.
- hocuspocus 3y agoThe SEPA Instant Credit Transfer rollout has started a few years ago, it's really common today. But even old school SEPA transfers shouldn't take more than a few hours nowadays, outside weekends and holidays.
- rini17 3y agoThere's instant SEPA being rolled in, if sender and receiver bank support it.
- thou234i32434 3y agoAll this seems so primitive compared to India's UPI.
- hocuspocus 3y agoIt is! To be fair it's easier to build something right when you don't have 20 years of legacy systems that need to keep running. Also, while SEPA covers fewer people, there are 36 countries involved. I believe https://empsa.org https://empsa.org members should eventually be interoperable with UPI, among others.
- bunga-bunga 3y ago> for free YMMV. My main bank charges 0.5% up to 20€ or something. My second bank does not.
- dsr_ 3y agoYou can't say "Paypal has been more stable than banks" until you read the regulator's report. Have you?
- noAnswer 3y ago"More stable" in what way? It's the only bank/money service I used that terminated my account. I didn't used it very much. One day I got an email that I violated TOS. (At first I thought it was fishing. lol) They gave me 180 days to withdraw funds, though. (Which is nice of them. I guess.) My last payment/money transfer before the ban was a donation to OpenBSD. That shouldn't be illegal. My boss used Paypal for several years for odd eBay sells. (Commercially, but only three, four times a year.) When they suddenly wanted to see copies of bills and passports. He eventually gave up, with still around ~100€ locked up.
- charrondev 3y agoThere’s SEPA in Europe and Interac in Canada. In the US I’ve had decent luck with Zelle in the past (my bank had support for sending with it), but recently I’ve just been using Apple Cash with family.