Hacker News Reader

Comment by MCRed | Hacker News Reader

The USA. The other countries Apple has not been specific about.

I believe this will follow the pattern that Apple normally follows for complex regulatory-involved industries (e.g.: the cellular carriers to support the iPhone). They're probably already working on BRIC and the G8 countries, will focus on them initially and then start rolling it out to wider and wider countries (with deeper and deeper integration in those initial countries.)

I think this is going to be a multi-year process, assuming it's a success, and it will be something that future keynotes include an update on (like "I'm pleased to announce that Apple Pay is now in 80,000 retailers in 8 countries")

View on HN

I'd be surprised if Australia wasn't one of the first countries to get it; we've for a long time had very technologically advanced banks that are often years ahead of the US. Last I heard cheques were still used by most people to transfer money in the states, is that still the case? I've grown so used to being able to instantly transfer money to anyone for free from my phone that I can't imagine how tedious having to use cheques would be.

No, nobody really uses checks anymore. Most payroll is direct deposit, person to person is Paypal, Venmo or your bank's version of them.

Edit: bills and rent are possibly the last hold out, but usually you set up bill payments through your bank.

I remember reading tweets from an Australian that moved to the US (to work for Apple as it happens) commenting on the banking system maybe 2 or 3 years ago:

Basically his experience was:

- Cheques were still reasonably common, to the point that some bank(s) had mobile apps to scan a cheque to deposit it!

- "Bill payments" through a bank usually involved bank staff literally preparing a cheque on your behalf, and mailing it to the biller

As for your comment about "person to person is Paypal" - ok and what if I actually care about what happens to the money, rather than it randomly being held by some non-bank? Do US banks really not have a standard way to transfer money to another individual electronically?

In Australia all that's needed are BSB number (Bank-State-Branch, a unique identifier for each individual branch through the country) and Account number. Transfers could take up to a day or two, the last time I tracked it

In Thailand, there is a similar system where money can be transferred directly to an account belonging to someone else (or your own account at another bank). So far it has always been instant transfer.

Both of these systems are available via internet banking, mobile apps and in Australia, phone banking (not sure about Thailand, promo material isn't always in English)

I remember a few years ago a client in the US apologising for an incorrect wire transfer to me, as he'd given the teller the wrong amount (swapped a 5 and a 2 or something). I was stunned to think that the founder of a tech startup would not be using internet banking to make wire transfers to contractors, but after reading about the cheque situation it occurred to me that maybe he didn't have the choice.. can anyone confirm deny this is available?

Wire transfers are not common (other than Direct Deposit). Yes, banking apps can scan and deposit checks. Most banks offer a paypal like feature to send money to people. People prefer paypal to using those services though.

I sometimes still get paid by clients using checks, but most have switched over to direct deposit or paying with credit cards.

International wire transfers are another beast due to the IRS and all the regulation around it. You need their bank account, ABA routing number, name, branch address, etc. I wire funds to Vietnam all the time, but there is a limit to the frequency and amount that I can do. It also will raise flags with the IRS, which is something to avoid.

Paper checks are suspected to go the way of the dinosaur in the US by 2028.

The UK is also a big check writing country too, fwiw.

And, honestly, checks aren't a pain in the ass. It's probably the same amount of time/effort as logging into a website and sending money, except for the time it takes to mail it or deliver it by hand.

And then wait for it to clear, hope it doesn't get lost, order a new cheque book, etc.

Edit: did you notice what I said about transfers in Thailand: instant. I can, within about 90 seconds, send money to a person or business at any other bank in the country. A cheque is only "basically the same time" if your scale for comparison is years.

Cheques are absolutely a pain in the ass, and you're kidding yourself if you think the us isn't woefully behind the times in terms of banking.

I thought thailand was bad when I tried to setup a foreign currency account, but it's like Star Trek era banking compared to amercia

If you asked for an opinion but already had your mind made up, why did you even ask?

Checks are cleared almost instantly now. When you take a photo of it, it's run through ACH just like a wire transfer is. At most, it takes a day depending on when you deposit it.

I never said the US was ahead or behind either, that's something you erroneously inferred. Checks are no longer common, as I said a few replies up. Other than dealing with come clients that still pay by check, I haven't seen one or dealt with them for years.

Also, I live part-time in Vietnam, so I know all about wire transfers thank you very much. I also know what dicks Aussie ex-pats are too, thanks for confirmation.

Well that escalated quickly.

If you look again you'll see I didn't ask for an opinion, like "are cheques a good way to transfer funds" I asked for confirmation/updates about a previously documented fact - the use of cheques in us banking.

I'm an Aussie who's been I'm the Bay Area for about a year now, I'll confirm what you say, American banks are absolutely prehistoric compared to Australia. Cheques are still very common for rent, govt etc(I haven't filled out a bloody cheque since my Dolomites account when I was 12). Paying other people for shared expenses (dinner, weekend away etc) is a mess of 3rd party services, some of which charge fees, none of which are ubiquitous. I still end up dealing in cash for a lot of things(!). I never thought I'd say it, but I miss the aus banks so much, it's just so inconvienient here.

Reply on news.ycombinator.com