Re:Did I just lose half a million dollars?
by zo1 on Sunday January 30, 2022 @06:55AM
(#30136270)
Agreed. Some people are super careful, like myself, when transferring money between personal (normal bank) accounts I always test with a small amount. Even if the bigger amount is like $200. And that's after triple checking the account number before clicking transfer. I can't imagine what I'd be doing with these exotic crypto accounts and smart contracts.
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Re:Did I just lose half a million dollars?
by sshine on Sunday January 30, 2022 @07:39AM
(#30136638)
When I do money transfers on bank accounts, I read the 10 digits 4-5 times. If the person that I'm transfering to is in the room, I ask them to read aloud their account number as I follow.
The fact that you have to get 10 digits right and that a typo can result in sending the money off somewhere unknown, disturbs me a lot. It's amazing how cryptocurrencies mimicked that part about existing digital money to perfection.
Give me a QR code, or wire my wallet up with an address book.
Re:Did I just lose half a million dollars?
by axiosgunnar on Sunday January 30, 2022 @08:43AM
(#30137102)
Account numbers have checksums.
An „off by one“ typo cannot occur.
I wouldn't trust all banks to have such things in their account numbers.
Especially in the tech age where they seem to think they're beyond physical keyboard typos and OCR errors.
Re:Did I just lose half a million dollars?
by ciupicri on Sunday January 30, 2022 @10:47AM
(#30138143)
What are you talking about? IBAN account numbers have not one, but two digit checksums.
I probably don't live in the same part of the world as you. IBAN account numbers are not common here at all.
Re:Did I just lose half a million dollars?
by CRConrad on Tuesday February 01, 2022 @06:08PM
(#30170967)
That only proves that banks in your part of the world are way behind the state of the art. The one thing it doesn't prove -- I hope you didn't think it does? -- is that Crypto/Blockchain is necessary for international currency transfers (as some deluded poster here tried to argue a week or two ago).
Re:Did I just lose half a million dollars?
by hashimotonomora on Sunday January 30, 2022 @08:52AM
(#30137189)
Do you know how account numbers work in every bank in every country?
Re:Did I just lose half a million dollars?
by cecilpl2 on Sunday January 30, 2022 @10:37AM
(#30138032)
In Canada we use email for person-to-person money transfers. I transfer money to my contacts by email address. They then get an email which informs them they have a pending transfer, and allows them to deposit it into their bank account.
You can optionally register your email with the central system for autodeposit.