Standard Treasury (YC S13) Aims To Make Software That Eats Commercial Banking

Re:Standard Treasury (YC S13) Aims To Make Software That Eat... by _delirium on Tuesday July 09, 2013 @12:50PM (#6013641)

'a' is fairly common, I believe. It's ubiquitous in Europe (typically no fee), and in the U.S., Bank of America will let you do an ACH transfer to any account in the U.S. for $3/transfer. Not sure what other banks' policies are.

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Re:Standard Treasury (YC S13) Aims To Make Software That Eat... by melvinmt on Tuesday July 09, 2013 @01:37PM (#6013941)

Coming from Europe, I'm also used to exclusively using wire transfers for free. Not so much in the US.

What's the difference between a wire transfer and ACH transfer? (Chase charges me about $19 for every outgoing/incoming wire transfer by the way).

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Re:Standard Treasury (YC S13) Aims To Make Software That Eat... by GeneralMayhem on Tuesday July 09, 2013 @02:52PM (#6014483)

Wire transfers are directly from one bank to another, and will go through same-day. ACH is like writing a check, but saves you having to handle the physical paper. It still goes through all the same automated batch processing as a check, so it takes a few days to clear.

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Re:Standard Treasury (YC S13) Aims To Make Software That Eat... by zt on Tuesday July 09, 2013 @12:56PM (#6013695)

$3 is a lot. Most banks will do it for 50 cents or less. If you have huge volume (someone like Square or Stripe) you can often get it down to one or two cents.

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