Yes it is, and I hope it actually fixes the issue. But I’m not sure how it works in detail and it doesn’t seem to actually replace the mess that banks made but instead just add a bandage. At least is seem to use ISO 200022 message standards but as I said would it be THAT hard to simply ditch all the crap and model a baking system around what the EU/Russia does?
There is actually a system in the works called FedNow that banks here can sign up to be a part of to allow national money transfer between any two people. Probably a lot of banks aren’t taking part yet since it’s barely a couple weeks old, but it’s promising.
TCB13@lemmy.world 11 months ago
Whirlybird@aussie.zone 11 months ago
Just an FYI for those that don’t know - outside of America everyone has been able to transfer money between any 2 people’s banks whenever they want without issue for decades.
pjhenry1216@kbin.social 11 months ago
Tbf, this isn't entirely true (it's as true as it would be for the US). This is more about the time required. Europe has had instant transfers for approximately a decade.
Edit: to be clear, I'm just refuting the plural of the word decade. The US is still behind by quite a bit though.
Whirlybird@aussie.zone 11 months ago
When were getting technical about it being one or two decades behind something as simple as this, we’re at the point where the distinction is irrelevant.
pjhenry1216@kbin.social 11 months ago
I mean, it's not. Exaggeration is still lying. 10 years behind technologically is worlds away from 20 years behind. Especially in the government world, regardless of government. It's still bad. You don't have to lie and make it look worse. It undermines your own argument when your cited number is off by a 100%.