61–70 of 238 posts
Meanwhile in the EU: Wait more than 48 hours between countries and in the same country wait up to 24 hours. And let's not think about weekends in between ;)
Earlier quoted context omitted.
Except in the UK, when it's normally transferred within a few seconds, or a maximum of two hours ("Faster Payments").
The Faster Payment system always tells me that I may have to wait two hours, and then it is instant. Have you ever had one take longer than zero time?
I have accounts with two banks (one for personal, one for joint finance with my wife) and FP makes that so easy to manage, if the joint account needs topping up I can do it in a minute or two on my laptop or phone.
This sounds like the swedish product "swish" which is immensely popular. Nobody does bank transfers between people, everybody transfers to your mobile number. So far I think there are no fees for personal use, either, although they said it would come later a few years ago. Transfers are of course instant and you can see the recipients name before you send the money, which is a great pro compared to a bank transfer to…
Do people really transfer that much money between them on a regular basis? Everyone was touting this as the selling point for some of the crypto currencies, but I've always thought this is a non-issue. It's anecdotal but I can count on the fingers of one hand the number of times I needed to transfer money to a person and not to a company.
Earlier quoted context omitted.
> Banking in ANZ is light years ahead of the US. And light years behind some other countries.
Out of curiosity, who is the world leader in banking? Going from Australia to the UK felt like going back in time 20 odd years.
I have mobile banking for everything, I can do almost instant (sub 30s) transfers between banks, we have contactless payment cards and Apple/Android pay support is ubiquitous, and we can do person to person transfers using a phone number (the horribly named "PayM").
What are we missing out on here that we should be pushing our banks for? I do see that there are a number of things that people just don't seem to use very much here, but that's less about the tech, and more that there just doesn't seem to be the demand, PayM being the big missed opportunity.
Earlier quoted context omitted.
Probably collectively. And has someone who has worked for Australian banks it is probably on the cheap side. Many of the core systems that needed upgrading are old and there isn't necessarily the people around who worked on them. And so there are a lot of costs that go into upgrading.
It just seems absurd that it should be so complicated and expensive to build a system which on a basic level is just about maintaining a large table of numbers (the ledger of bank account balances) and doing simple arithmetic on it. And I say this as someone who develops banking systems for a living. I think/hope the banking and financial sector in the future will be much more lean and optimized, both in terms of sys…
The most dangerous word in software development.
Instant payments, aka “instant SEPA” will be available soon also in the EU https://www.europeanpaymentscouncil.eu/what-we-do/sepa-insta...
I couldn't find details on it, but will this system allow for transfers based on phone number or email or will it still be based on IBAN?
Instant payments, aka “instant SEPA” will be available soon also in the EU https://www.europeanpaymentscouncil.eu/what-we-do/sepa-insta...
I couldn't find details on it, but will this system allow for transfers based on phone number or email or will it still be based on IBAN?
This sounds like the swedish product "swish" which is immensely popular. Nobody does bank transfers between people, everybody transfers to your mobile number. So far I think there are no fees for personal use, either, although they said it would come later a few years ago. Transfers are of course instant and you can see the recipients name before you send the money, which is a great pro compared to a bank transfer to…
There are similar products in other markets. E.g. in Denmark (and Finland) there is MobilePay, which is also very popular. Source: worked developing it for a couple of years. It get's to the point when even panhandlers don't hold a cup but a sign with their mobile numbers, so you can transfer money via the app.
This sounds like the swedish product "swish" which is immensely popular. Nobody does bank transfers between people, everybody transfers to your mobile number. So far I think there are no fees for personal use, either, although they said it would come later a few years ago. Transfers are of course instant and you can see the recipients name before you send the money, which is a great pro compared to a bank transfer to…
Do people really transfer that much money between them on a regular basis? Everyone was touting this as the selling point for some of the crypto currencies, but I've always thought this is a non-issue. It's anecdotal but I can count on the fingers of one hand the number of times I needed to transfer money to a person and not to a company.
There are also issues with Spain being rather anti people setting up simple businesses from home.
This sounds like the swedish product "swish" which is immensely popular. Nobody does bank transfers between people, everybody transfers to your mobile number. So far I think there are no fees for personal use, either, although they said it would come later a few years ago. Transfers are of course instant and you can see the recipients name before you send the money, which is a great pro compared to a bank transfer to…
Do people really transfer that much money between them on a regular basis? Everyone was touting this as the selling point for some of the crypto currencies, but I've always thought this is a non-issue. It's anecdotal but I can count on the fingers of one hand the number of times I needed to transfer money to a person and not to a company.
When you go to a birthday afterwards, one has bought the present and the others transfer their part to him.
Danes send money to eachother daily.