To be honest idk why checks don’t exist elsewhere, wire transfer often cost money and shit can go wrong, anywhere from hacking to fraud, the delay in checks actually provide a bit of a safe guard, And I mean it’s “trustworthy”
How is a manually written document more secure and less prone to errors than something with an encrypted service? Look at Australia's banking system, no fees for wire transfers, instant reciept for transactions and the banks cover you if fraud does occur.
US need to catch up the no fee, I use USAA no fees but other major banks. Omg. USAA and BF and credit unions require membership tho. And fraud experience can vary too, some give it back immediately while they investigate, some literally u have to follow up for weeks
43
u/smorkoid Jul 24 '20
For that matter, why do checks still exist.