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> And that's money in your pocket at that point not an IOU like a pending transaction at a US bank In Australia, we have instant transfers between bank account
by threeseed 3y ago
> And that's money in your pocket at that point not an IOU like a pending transaction at a US bank
In Australia, we have instant transfers between bank accounts.
I imagine the US will get to that point soon in which case there is no benefit to crypto for this use case.
- govg 3y agoIt exists in the US as well (Zelle), except due to the super high number of banks, not all will have feature parity / have it enabled. The major banks like Chase support QR code scanning for instant transfers, smaller ones might require a phone number or email input via keyboard.
- kjkjadksj 3y agoVenmo is probably even more popular than zelle
- ianburrell 3y agoIt will exist soon in the US since FedPay was rolled out this year. It will take a while for banks to support it, but my guess is everyone will support it as replacement to ACH. I don't think Venmo will die since there is a need for app to provide nice interface. But Zelle has been lobbying against FedPay since it will destroy them.