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    The computers at many large ones are more like 70’s-80’s.

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      Author is generous. Originally from UK, moving from NL to US in 2006 I ended up remarking to colleagues that the US banking system was like moving back to the 1970s. 11 years later I’m still using passwords for bank website authentication, with knowledge of a bank account number being a closely held secret.

      IBAN fee-free international transfers to friends or for paying bills (same day in-country, instant if same bank chain); fee-free cross-bank ATM withdrawals; sane security for web sign-in or initiating transfers; banking websites which don’t require you to lower the browser security settings to work; PIN-less on-card small-balance cash so you’re not typing your PIN into everything (paying for parking or using vending machines), all stuff I am still waiting for. Well, aside from the browser security settings: American banks have mostly caught up there.

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        IBAN fee-free international transfers to friends or for paying bills (same day in-country, instant if same bank chain)

        SEPA Instant Credit Transfer is launching in November and will hopefully see support from banks somewhen next year. It will allow instant (less than 10s) transfers across banks.

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        You can make person to person electronic transfers in the US, they just aren’t free or easy. I made monthly wire transfers for 3 years to pay rent. The transfers were person to person and cleared same day or next day, just like the author had in Australia. In the US though my credit union charged a $15 fee and required me to call them and then verify all information on a call back to me.

        Real banks can do domestic wires all electronically but typically have higher fees. Banks can and do compete on the fees [1], but its just not something most US consumers care about.

        There is no incentive for US banks to make person to person transfers either free or easy. The banks are responsible for costs of fraud, which would be massive at the rollout of free and instant person to person payments, but would gain no new revenue.

        Eventually regulation will force their hand, but until then we’ll be taking pictures of checks.

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          Anyone with a 4-digit PIN may have noticed that banking is in the 90s. The 1890s.

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            What’s the problem with 4-digit PIN?

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              I don’t have a link handy but the major (current?) implementation is ass. Jist of it is that with the initial pin knowledge one can recover the current pin. So changing pin for security on those systems is kinda moot.

              I just hope most banks have moved away from that.