Bank transfers as a payment method (2021) • Hacker News Board

Re: Bank transfers as a payment method (2021)

#181

Post by gorbypark » Sun, Jul 16, 2023, 4:50 PM UTC

raverbashing wrote: post #24

spaniard89277 wrote: post #21

I'm sorry SEPA is pull based? IDK in other countries but in Spain is pretty common to use it for push and pull operations. I certainly do, and everyone I know. The only nuisance is that requires an IBAN number and most Banks require a security ritual which is pretty boring. I didn't know that there's high fraud in SEPA either. Whoever tries to charge me, I can block em and contact my bank to make em know I didn't all…

Yeah I think the pull based is not that common (usually for standing orders, and most of the time it's intra-country, through it works cross) but the push mode is also very popular

Having recently-ish moved to Spain, I think both push and pull are fairly common. Both my health insurance premiums and phone/ISP bills are just taken from my account each month.

Sometimes larger transaction (buying a mattress for example) seem to SEPA push based, but I don’t do a lot of one off transfers (using SEPA).

It does seem like Bizum has taken over for person to person transactions, though. Even some companies are accepting Bizum for online payments, and I’ve seen some small shops posting a QR code for their Bizum at the checkout counter.

Re: Bank transfers as a payment method (2021)

#182

Post by astrange » Mon, Jul 17, 2023, 8:06 AM UTC

anaganisk wrote: post #162

astrange wrote: post #113

Earlier quoted context omitted.

The US has had multiple instant payment methods for years. Zelle is not the only one, debit cards are another.

If you ever use UPI, your opinion will definitely change, the scale of payment transactions UPI handles in a day, and how much penetration it has. And how easy it is to setup or use. Like I mentioned in another comment, I am from India but have been living in US for last 2 years, so my comments are not from ignorance of US payment methods.

I'm not talking about person to person payment methods though. The existing ones we have are mostly used for daily payouts for eg Uber drivers.

Re: Bank transfers as a payment method (2021)

#183

Post by AtNightWeCode » Tue, Jul 18, 2023, 5:55 PM UTC

Symbiote wrote: post #157

AtNightWeCode wrote: post #107

Earlier quoted context omitted.

"I can dispute the charge and get resolution without any money leaving my bank account." Really? In what cases can an average credit card user challenge a payment that has not already occurred? If there is a fraud usually it is quick to get money back if debit cards were used.

As an example, I bought a ticket using a British credit card to a music festival. The festival went bankrupt so never happened. I claimed the cost of the ticket back from the credit card company. Recovering money from the bankrupt festival is then their problem.

I forgot that credit cards comes with insurance in some places. Most apparent is that you can't even rent a car in some parts of US without a credit card. In EU that type of insurance may be included in the legally obligated housing insurance.

Re: Bank transfers as a payment method (2021)

#184

Post by cpursley » Wed, Jul 19, 2023, 12:56 PM UTC

refurb wrote: post #178

cpursley wrote: post #167

Earlier quoted context omitted.

Now compare your US bank to Asian or others outside the West. Actually, just check screenshots in the App Store for foreign non-Western banks.

I've had a Singaporean bank account and their online presence seems similar to the US, but higher fees. Is that what you were getting at?

I'm not aware of Singapore's system, I'm mostly thinking China (WePay, etc).

Re: Bank transfers as a payment method (2021)

#185

Post by moberley » Sat, Jul 22, 2023, 1:07 AM UTC

post-it wrote: post #95

moberley wrote: post #88

Earlier quoted context omitted.

It is not universally free unfortunately.

Which banks still charge for it? Tangerine, Scotia, and RBC have it for free at least.

I don't know about the banks but some credit union accounts have a fee for it.