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It's absolutely archaic that I have to wait for my landlord and either give him cash/check in hand every month. This needs to be fixed! Why can't I pay my rent
by ramoq 17y ago
It's absolutely archaic that I have to wait for my landlord and either give him cash/check in hand every month. This needs to be fixed!
Why can't I pay my rent with my credit card?
- cperciva 17y agoWhy can't I pay my rent with my credit card? Because, as you point out, credit cards have large transaction fees. This is an inevitable consequence of it being a "pull" payment mechanism. If you want to fix the paying-rent problem, you need to convince US banks to provide an efficient "push" mechanism for payments such as exists in the rest of the world -- i.e., a way that you can tell your bank "send $X to account number 12345 at bank number 6789".
- burnout1540 17y agoAre the U.S. wire transfer systems (the Federal Reserve Wire Network and the Clearing House Interbank Payments System) not efficient? I know that banks charge a lot for customers to wire money to other accounts outside of that bank but I'm not sure whether that is a byproduct of an inefficient system or just a result of greedy banks. Do other countries have regulations that prevent banks from charging large sums for wire transfers?