Quote:
Originally Posted by Neil S
Man the non-Americans are awfully insecure about this whole not being America thing.
I'm an American but I've been living abroad for 7 years. I want America to thrive! That's why it pains me to see the US stuck with these backwards systems. The transaction costs might be small, but they add up across billions of transactions. The OP is a good example. Nobody can trust checks, so he has to piss around getting money orders.
xlz, internet transfers here are not reversible and don't open you up to being hacked. Everyone (businesses and individuals) uses them for paying rent, mortgages, business invoices, craigslist style purchases, that sort of thing. Anything that you wouldn't use a credit card for.
The only downsides are that you do not have the consumer protection of a credit card, and if you send the money to the wrong account accidentally your only recourse is asking nicely for it back.