I just paid rent. It was free, through my bank app, and got to my landlord basically instantly. All I needed was my property manager's email address.
I could send money to a friend the same way.
This doesn't sound much different than ACH or PayPal but I assure you it is 1000% nicer.
One of the many things you don't realize living in the US is how much friction is added to basically everything you do to ensure some middleman or service provider can profit off of it.
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@tess Sure do wish we had Zelle in the US.
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@ThisAccountKillsFascists I did, but not everyone has it and it's still a third-party service.
(Also it was introduced in 2017 and everyone else has been doing this for years. And it's private, for-profit compared to e.g. interac, etc.)
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@tess @ThisAccountKillsFascists
And mostly got shut down at our old bank in the past month due to enforcement actions. Several large banks are affected.
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@Vrimj @ThisAccountKillsFascists I did not know but I am not surprised
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@tess @ThisAccountKillsFascists https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-jpmorgan-chase-bank-of-america-and-wells-fargo-for-allowing-fraud-to-fester-on-zelle/
They are not wrong but also it sucks a lot.
This is a thing a banking system should just do.
Next thing you know some minicomputer will break and people will have to go back to exchanging bags of checks in a parking lot like they did before ACH
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text/gemini