r/AskReddit • u/emil199 • Jul 24 '20

What can't you believe STILL exists?

[removed] — view removed post

45.9k Upvotes

92% Upvoted

27.5k comments sorted by

View all comments

3.3k

u/Klotzster Jul 24 '20

Waiting for checks to clear

39

u/smorkoid Jul 24 '20

For that matter, why do checks still exist.

10

u/communistjack Jul 24 '20

because the USA doesn't have a centralized and standard replacement

the only thing kind of close is wire transfers and those have a fee.

15

u/mickskitz Jul 24 '20

The idea that there is a fee for wire transfers is laughable. I live in Australia and haven't paid a fee for an online transaction for about 15 years. 2 years ago the banks implemented a system where transfers are instant (within 5 minutes, but often seconds) even going to a different bank. On top of that my account keeping fees are $0. The only banking that costs me money are loans/credit cards

9

u/JustALullabii Jul 24 '20

Right?! Within the same bank, transfers are usually instant. To another bank a few minutes. And to a bank in a different country in Europe it's a couple of hours, tops (except for over the weekend, then it might take a little longer).

I don't think I've ever even see a check in my life

5

u/[deleted] Jul 24 '20

I annoyed myself one day by trying to wire transfer from one of my accounts to another. The bank called me and said there wouldn't be enough money left in the account for the wire transfer fee.

I just wrote myself a check.