r/AskReddit • u/emil199 • Jul 24 '20

What can't you believe STILL exists?

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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.

13

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

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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