341–350 of 431 posts
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> I felt like I stepped into the future. It's more like stepping out of the past. It's not that India is particularly ahead, it's that the US is particularly behind. The EU for example has essentially instant SEPA transfers now and has done for a while.
Good luck convincing the shop owner to accept payment in SEPA instead of cash the next time you get a beer.
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Americans have such a strange relationship with technology... the most innovative startups, and yet the worse infrastructure. here in Europe it's the contrary :) and btw: the service will be active in 2023 or 2024... while I enjoy immediate transfers bank to bank since years...
Two things (probably more) contribute to this, I think: 1) Americans have been trained from birth to distrust government in all forms. Centralizing more and more services triggers a visceral fear response. (IMO it's nonsense, for the most part, but it's there nonetheless.) 2) Being "first to market" with new technologies often means you're just stuck with the sub-optimal first version, while other countries can learn…
And otherwise I like cash and social security is one factor. Let's take a "problematic" country like Germany and its social security net. In the event that you cannot take care of yourself, the government gives you the minimal amount of money you need to survive. In exchange for total control of your accounts. There is a gray area with abuse of social security, but I think it is clear what that control can entail.
Will they even seize 10$ you got from your friend for a pack of cigarettes? Yes, they will... Being critical of government is the better way, it cannot be your parent and if it is, it is a lousy one. These rules were made by civil servants that cannot even get into that situation and it shows.
So don't give up the suspicion just yet.
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Regarding #3, having a bank agent state on a recorded call “well, you don’t sound female” seems like a good way to get sued by a protected class.
Which? Trans people aren't a protected class in the US.
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Regarding #3, having a bank agent state on a recorded call “well, you don’t sound female” seems like a good way to get sued by a protected class.
Which? Trans people aren't a protected class in the US.
Technically but not materially true, since gender identity discrimination, like other forms of conformance-to-sex-stereotype discrimination, has been found by the Supreme Court to be a form of sex discrimination.
If anyone from the FED is reading this I have this advice: don't use ISO20022! (I've been working on the brazilian instant payments project, known as PIX). It's an overly-complicated-try-to-solve-everything standard that promises interoperability but only delivers pain and misery. Since each country has its own standards for person and account identification, in dealing with these local realities, the ISO20022 adds q…
And I got downvoted for predicting this a few weeks ago.
Without proof (or at least some great reasoning), I think downvotes of "predictions" are correct.
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As far as I know, yes, and UPI/"FedNow"/Cashapp-and-friends don't change that. That being so, if I'm honest I'm not really sure where the prior commenter's objection originates. Maybe they know about some directly accessible clearinghouse that I don't? I'd be surprised for several reasons to learn such a thing exists, but I've been surprised plenty of times before.
Unless this is actually possible in some country, I think they're both confused. But I'm guessing the objection was probably intended to convey "this is just as 'direct' in the US as it is in Australia", which would seem like a valid objection to the article.
Because America doesn’t have the equivalent of a “receive only” code, every service has to build that functionality themselves “on top of” ACH, and prevent direct access to ACH debit and credit functionality.
That being said, for $10/month any business can get direct access to ACH including debits and credits, and then whatever gateway you use is supposed to do some level of fraud detection against your transactions.
The whole problem was that the account number was too long. No error messages anywhere. Fidelity also has a 13-digit account number version that I've been using ever since.
What a mess.
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Your blog article is startlingly incorrect pretty early on. Individuals can and do use ACH between each other all the time. It is literally how paper checks work in the US. And I’ve been able to use a routing number and account number to send money to someone else online via ACH for decades...
In the UK if I want to send someone money to anyone in the UK I open the mobile app and input their sort and account number, type in the amount of money and hit send. Done. Similarly in the NL if I want to send someone money to anyone in the EuroZone I open my bank app type in their IBAN type in the amount of money and hit send. Done. Back in 2017 when I lived in the US this just wasn't possible. If I wanted to send…
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Correct me if I'm wrong, but the Real ID act[1] is a national ID in every way but the name. [1]: https://www.dhs.gov/xlibrary/assets/real-id-act-text.pdf
Correct me if I'm wrong, but the Real ID act[1] is a national ID in every way but the name. If it was a national ID, it would be mandatory. Real ID is optional.
https://en.wikipedia.org/wiki/List_of_national_identity_card...
For example:
https://en.wikipedia.org/wiki/National_identity_card_(France...
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Unless you only speak to younger people in tier-1 cities, China is enormously diverse linguistically.
I can confirm that, the situation may improve in the next generation.
i believe losing linguistic variety is almost a tragedy.
