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My experience as an American: - Free or instant, pick one. FedNow was supposed to fix that but AFAIK it hasn't rolled out. - Opening a bank account involves s
by kmeisthax 2y ago
My experience as an American:
- Free or instant, pick one. FedNow was supposed to fix that but AFAIK it hasn't rolled out.
- Opening a bank account involves shittons of KYC paperwork. I've never had to prove residency though. In fact in Utah it's the opposite: you can prove residency (for a state ID card / drivers license) by, among other things, having a bank statement with your new address on it. No clue how that works with paperless.
- Virtual/one-time numbers are a thing but not widespread. Credit card companies sell services intended specifically to ensure getting a new number doesn't cancel recurring charges.
- 3DS (Three Domains Secure, not Nintendo 3DS) is technically supported but rarely enforced by merchants.
- Cashback is a gimmick used to justify payment fees.