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 
FedNow is only implementing credit transfers, to avoid the fraud problem. SEPA should move to four party digital mandates though.
-
-
The problem is that FedNow is planning to use ABA numbers, which do support direct debit over ACH. So Americans will still be hesitant to share their account number. Giving everyone a credit-only IBAN would fix that.
-
It coud be quite easy to secure more, in various way (banking app notifications, specific IBAN, ...) the SDD scheme. But for banks, Sepa is already very expensive, with almost no income from customers. So that's a low incentive to work on it. Even SCTInst is often free.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
at
retweets