Re:EU-wide maximum limit of €10K for cash payments
by DiggyJohnson on Saturday December 10, 2022 @05:42PM
(#33937785)
I feel like we have decent banking here…?
[ Parent
| on HN ]
Re:EU-wide maximum limit of €10K for cash payments
by crummy on Saturday December 10, 2022 @06:01PM
(#33937976)
Isn't it dangerous to give out your bank account number in the US, people can withdraw from it if they know it or something?
Re:EU-wide maximum limit of €10K for cash payments
by rootusrootus on Saturday December 10, 2022 @07:32PM
(#33938631)
You'd also need the routing number for the bank as well as the name on the account, at a minimum. And what you're thinking of is ACH, which goes between institutions, not between individuals.
Re:EU-wide maximum limit of €10K for cash payments
by ceejayoz on Saturday December 10, 2022 @07:59PM
(#33938818)
The routing and account numbers are on all paper checks you write. You can use them to set up ACH transfers to/from that account, with pretty minimal checks.
Re:EU-wide maximum limit of €10K for cash payments
by rootusrootus on Saturday December 10, 2022 @09:12PM
(#33939324)
Those transfers have to go through heavily regulated institutions, however, all of whom have strict KYC laws. Of all the ways to try and steal someone's money, this would be fairly low on my list.
Re:EU-wide maximum limit of €10K for cash payments
by singpolyma3 on Saturday December 10, 2022 @06:42PM
(#33938279)
USA doesn't even have a standard way of normal humans transferring money electronically to each other, leading to a plethora of competing apps that try to solve this.
Re:EU-wide maximum limit of €10K for cash payments
by kube-system on Saturday December 10, 2022 @09:46PM
(#33939557)
The US has a couple of ways that normal humans can transfer money electronically to each other. But they're old school (and require bank accounts) and that's why there are newer systems that people use instead.
Re:EU-wide maximum limit of €10K for cash payments
by rootusrootus on Saturday December 10, 2022 @07:34PM
(#33938644)
There are upsides and downsides. Having an additional degree of separation is nice when I'm doing transactions with strangers. I prefer to use Venmo instead of Zelle for precisely that reason.