Comment by FabHK | Hacker News Reader

Comment by FabHK | Hacker News Reader

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Indeed. I had bank accounts in 6 or 7 jurisdictions, and used mobile payments (mPesa, GoJek, etc.) in many more, and the US banks were by far the worst, most primitive, archaic, least convenient, most punitively expensive (in a mean-spirited way) of the bunch. It is no wonder that the (terrible, and expensive) PayPal originated in the US, because the extant alternatives were so primitive (sending checks by mail? seriously?) - other countries had simple, fast, cheap domestic payment systems for ever.

UK and related systems (Ireland, Hong Kong, Channel Islands) second worst.

European continent - what a pleasure by comparison. Everyone has their account number on their website or stationery, and if you want to transfer money, you transfer money.

Of course, I understand that US banking has been catching up to Europe and Africa and Asia. Enjoy.

EDIT to add: As many point out, that's obviously retail. Can't beat US banks in investment banking - Swiss banks and Deutsche and HSBC etc. have been trying.

In my experience UK banks are quite a bit better than German, though that's changing. UK has had almost instant payments for several years. In addition most of the German banks think 5 character passwords are sufficient.

Big difference is that US banks usually charge no fees. Not for a monthly account, not for a credit card, not for a debit card. Probably not even teller services.

And if you go to a US teller, they won’t direct you to an ATM.

From what I’ve seen in France, bank branches are increasingly cashless. Need $5k? Go to the teller and ask them to open a window on your account, and then make 5x transactions at the ATM (with its 1k limits).

I've seen UK banks (to be fair not just banks even wireless service providers) charge for a phone call to their customer service number! (the equivalent of a U.S. toll-free service).

It’s fairly common in Europe. At least it usually means it’s technically illegal for them to put you on hold.

For airlines, I know Europeans that will pull up Skype and call their airline’s US number if they have one.

My BoA account has fees, my Axa account doesn’t.

And don’t get me started on trying to use wires with BoA, they won’t not even tell me why they are rejected, but still keep the $30 fee.

I suppose you have your reasons (Global ATM alliance?), but if you’re paying monthly fees on your US chequing accounts, for most people it’s worth shopping around.

leaving the US next month anyways. When I went to shop around, I was told small local banks don't do international wires, I didn't try the other big ones.

My credit union (First Tech) does wires. It goes through another bank, but they allow me to initiate it from my account etc, so there's no practical difference.

> UK and related systems (Ireland, Hong Kong, Channel Islands) second worst.

How do you even come to this. My experience with UK banks is pretty much second to none. Instant transfers with upfront confirmation with amounts well over 10k. Easy ability to split bills with URL, ability to freeze cards (even outside Monzo, etc), easy instant exchange currencies including overseas (yes a transfer into the UK from another country is instant), icons around my expenses. Account numbers are short and IBAN compatible too. Best of all the typical current account is free.

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