Posts by ironcyclist58

What’s your routing number? Is it 026073150?

Isn't this just some campaign for those e-invoices (the ones they're forcing everyone to send to government contractors starting July 1st)?

It’ll probably support both, honestly. I was just saying the barcode option caught my eye... mostly because I'm hoping it fixes those annoying gaps with Gmail, like the high fees and the fact that you can't even send money to certain accounts.

Sure, but the real win with barcodes is that you can pay off pretty much any bill you want.
That would basically put them right up against Gmail as competition.

The real headache here is switching everything over to the app (I'm assuming if you opt for digital, they stop sending paper statements or anything else through the mail). My main concern is what kind of "format" these bills actually come in once you go digital... like, will you still have all the essential info—account numbers, payment references, and whatnot—to pay it through another method? It reminds me of setting up auto-pay with a big bank like Chase; sometimes you lose that flexibility to just manually pay the bill via a different way if things change...

Kevin Morris12 said:To all me, this seems incredibly redundant. What’s the point of scanning a bill's barcode if you're just going to receive that same bill in your inbox and pay it in three clicks anyway? And we're talking about handling ten different bills at once. That's the concept, at least—though whether they can actually pull off such a seamless execution remains to be seen.

Actually, this specific section of the article is far more intriguing to me than the app itself:

For startups looking to break into the market here, this represents a massive opportunity—especially since banks will be required to open up their IT interfaces by mid-September due to the PSD2 directive, allowing users to pay bills directly through various third-party apps.

I wasn't aware that banks would be mandated to grant access via third-party applications starting this September. This is a fantastic development! I've seen how smoothly this works with banks in Germany; you can elegantly access your online banking through a variety of apps that have nothing to do with your primary bank. By using your existing bank credentials, you log directly into these third-party platforms, which lets you consolidate accounts from four or five different banks into one interface. Beyond that, these apps can offer features your traditional online banking might lack—you could even apply for various credit cards in practically three clicks (by giving the credit providers a view of your account status). If I recall correctly, isn't this also a prerequisite for linking a bank account to PayPal for direct debits? It opens the door to all sorts of instant payment services tied directly to your account; in Germany, for instance, they use Venmo, or in the Netherlands, they use ideal and things like that. In Germany, these systems are even used for identity verification when accessing services that require personal data; instead of jumping through all those hoops, you simply allow them to verify you through your online banking. Here in the States, we have something similar starting to take shape through services like Login.gov.

It’s because you’re basically being locked into their ecosystem. What happens when you want to pay a bill with cash one month, or use a different method entirely? Or what if the app crashes right when you actually need to pay something? With a standard barcode payment, you can handle any random bill, even if the app doesn't have a direct partnership with the provider...

Kevin Morris12 said:Business Insider just put out a piece about this new bill-pay app launching this fall. Technically, the app is already live, but it’s pretty much non-functional right now. That said, if they actually deliver on the promise of letting you pull up and pay all your bills directly within the interface, wouldn't that be a total game-changer?

It looks like that Romanian Pag is in quite a rush to win over American users, since they're already pushing people to download the alpha version.

Personally, I couldn't care less about that. I just want to scan a barcode and be done with it.

Where can I get my hands on this alpha?

You’ve gotta document everything, report it, all that jazz... (I don't know the specifics, I don't really deal with that stuff) just like when you're getting funds sent straight to an American bank account.

When you say "necessary," do you think Transferwise is actually forcing your hand, or are you just trying to stay on the right side of the law?

Give it another shot, maybe it’s just some temporary glitch...
Are you sure you're using the right routing number? You need the one for ACH, not the wire transfer one.

Unless they’re already charging fees for incoming transfers from other American bank accounts...
The money is coming from a Transferwise account held at JP Morgan Chase (US0000000000000000000).

Sometimes I look back and realize there was actually a time when transfers didn't cost an arm and a leg...
Now they’re hiking up those conversion fees too, bumping the USD-EUR spread from 0.4% to 0.67%. Honestly, even JP Morgan Chase isn't being that greedy. 🤦

Kevin Morris12 said:I just realized that Wise has finally added Apple Pay support for topping up accounts in America! 🙏 Previously, you could only do this if your account was registered in the USA, Switzerland, France, Spain, Ireland, or Italy. Unfortunately, it isn't showing up for my local currency yet, though it works perfectly for dollars and pounds. I’m really hoping they roll it out for all currencies soon—it would be great to have it work for everything. 🙏



I honestly don't get why they are still clinging to that "fast transfer fee" when topping up via card; almost every other service lately has phased that right out.

On the bright side, you can make a zero-fee deposit using bunq. It’s pretty much the ideal setup—you just use bunq and then the bunq app pops up automatically to confirm the payment. 👍

It’s not just that they still have it, they’ve actually bumped it up several times. Back when I first started using PayPal, using a USD debit card was basically free, and credit cards were just a tiny fee—maybe 0.2% for debit and 0.3% for credit. Then USD went up to 0.2% and other fees hit 0.4%, and now we're looking at 0.35% for USD and 0.5% for everything else. It just keeps creeping up...

If you're interested, I can drop the link for the $13 bonus right here.

Chime.

Yeah, you should be able to toss a virtual card into Apple Pay without any issues. I haven't actually tested it myself, but people over on Reddit have been saying it works just fine...

Starting May 21st...

Yeah, they’re definitely hitting you with conversion fees. With Chime, you can top up your card without getting fleeced, and there aren't any hidden currency exchange markups either. If you're interested, I can shoot you a referral link so you can snag a $13 bonus on Chime.