I’m trying to figure out how to send $6000 from my Chase bank account to my wife’s Chase account for our income tax payment and the answer is to either:
- Write a free paper check
- Send $2000 for 3 days through Zelle
- Pay $25 for a wire transfer
America 
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At the end of the day, this is a lack of regulation problemhttps://twitter.com/thijsniks/status/1386176000464064514 …
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A desire to gain independence from Visa and MasterCard fuels momentum around the world to improve the banking system, while the US obviously does not feel the same urgencypic.twitter.com/si8GhL19Gp
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“But, Thijs, do Americans really still use checks?” Yes, 14 billion per year to be precise. To transfer $26 trillion. https://www.federalreserve.gov/paymentsystems/2019-December-The-Federal-Reserve-Payments-Study.htm … https://www.federalreserve.gov/paymentsystems/fr-payments-study.htm …pic.twitter.com/L58x0bVaRo
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“Why would you want to send money to another bank account??” - Zelle - PayPal - Venmo - Cash app - Apple Cash - Google Pay - Facebook Pay
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End of conversation
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@NPCI_NPCI should pitch !Thanks. Twitter will use this to make your timeline better. UndoUndo
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The digital dollar project might lead to improvements here without the need for inclusion in the infrastructure bill.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Just a heads up, RTP (real-time 24/7 interbank payments) migration is well under way - but there are also banks that don’t charge wire fees.
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Can’t wait! I haven’t seen any news yet about when consumers will get access to RTP and what they are planning to charge for it though. They could just not make it easily accessible, like ACH
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