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Yeah this was the only good thing about zelle...once you got money...you had it. Now there is all this nonsense about how your money could just disappear at any
by tryptophan 3y ago
Yeah this was the only good thing about zelle...once you got money...you had it. Now there is all this nonsense about how your money could just disappear at anytime in the next 90 days and there is nothing you can do about it. Guess the feds really hated the idea of normal peasants having a way to transact with finality; something we obviously need to be "protected" from.
- smt88 3y agoTransactions with finality are a bug, not a feature. Reversing a transaction (under certain circumstances) is enshrined in the almost the entire history of US common law and is protected in federal statutes. A money transfer system that prohibits reversals doesn't reflect what money needs to do.
- hahajk 3y agoWait, how so? Didn't most transactions take place in cash for most of history? Cash isn't reversible.
- KptMarchewa 3y agoCash is reversible in a way that you find person that you exhanged goods and services with and they give you your money back, whether voluntarily or forced by court order.
- eviks 3y agoSo no different from the previous Zelle model
- dnissley 3y agoIt's quite interesting that cash escapes such criticisms by virtue of simply not being a "system". Perhaps crypto will win this space after all.
- deleted 3y ago[deleted]