My experience with this kind of transfer system is limited to the posted article, but the benefits sound enormous! > 1) They take time to process, so if you ha

My experience with this kind of transfer system is limited to the posted article, but the benefits sound enormous! > 1) They take time to process, so if you have to move money around, you can give someone a check and then go put the money in that account. With the giro transfer method, it sounds like you're in more control -- it's a push, not a pull. > 2) You control when the vendor gets paid. If you give someone a credit card number, they can just charge you. With a check, they have to ask ME for money, and I decide when or if I'm going to pay. Right, but after you give them the check, it becomes exactly like a credit card. They can charge you at-will. And, just like your credit card, there are stiff penalties for fraud. And just like your credit card, fraud still happens. > 3) Signed, written, record. How is physically stepping into your bank and personally authorizing a transfer of funds any less of a signed record than a check? > 4) NO FEES attached for the vendor. I LOVE getting paid by check because I don't have to give 5-10% away to some bank. Why do you assume that there's a vendor fee here? Personally, if I never saw another paper check that'd be fine. They're nothing but a hassle. Having a quick and easy ability to accept deposits and authorize transfers without the use of a paper check is such an amazing convenience that I'm shocked we haven't adopted such a system.