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The banking system in the US is so messed up, and Venmo is so hostile. Here in the UK I can just send people money immediately, and been able to do that for de
by happymellon 3y ago
The banking system in the US is so messed up, and Venmo is so hostile.
Here in the UK I can just send people money immediately, and been able to do that for decades.
- KomoD 3y agoSame here (Swish), we've got great authentication as well (BankID)
- dboreham 3y agoIt's deliberately messed up in order to make more profit if you're a bank. UK has proper electronic funds transfer because the culture accepts government telling big business to do stuff for the public benefit. US political corruption and culture precludes that.
- happymellon 3y agoI think it's worse than that. My bank offers a US routing and account number so that Americans can transfer money, since the banks over there struggle with international payments. I then found out that my in-laws still can't transfer money because their bank has removed the ability to send money to another account that isn't via Venmo. It's not "messed up" it's hostile.
- dralley 3y agoThe US has that too, it's just decades late. FedNOW is being rolled out this year