3 ms·
The U.S. really is an outlier among developed nations in that its giro system is not widely used I wasn't even aware such a thing existed? Or do you mean Zell
by alistairSH 1y ago
The U.S. really is an outlier among developed nations in that its giro system is not widely used
I wasn't even aware such a thing existed? Or do you mean Zelle, which seems to be some sort of hybrid system... It's not quite a giro system as found in most of EU, more like "PayPal, but built by BofA and CapOne"
- fweimer 1y agoI don't do much banking in the U.S. system, but I'm assuming that ACH transfers get you pretty close to a giro system. Apparently, they are quite slow by SEPA's standards.
- alistairSH 1y agoVery slow. And not something consumers use to pay each other. If I need to pay a friend, it’s Venmo or PayPal in the US. In theory Zelle too, but I don’t know anybody who uses it.