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cgknight1 t1_j316ozu wrote

Reply to comment by MatthewBakke in Danish bank workers celebrate first full year without robberies by asteriskspace

Americans seems highly resistant to the cashless society and also the country lacks the types of banking regulations you see elsewhere that have enabled the transition (for example - card fees are capped at 0.5% in the EU for businesses) so that does not surprise me. Another example is that in most places in europe, cashapps are not a thing because transfers between banks are free, instant and safe.

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jamar030303 t1_j32uzni wrote

>Another example is that in most places in europe, cashapps are not a thing because transfers between banks are free, instant and safe.

Two other factors:

  1. In the US, having someone's bank routing and account number is enough to initiate a withdrawal from their account. You can't do that with just an IBAN in SEPA countries.

  2. SEPA bank transfers still require you to know someone's legal name. One thing some people like about "cashapps" is that you don't need to give the sender your legal name.

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MatthewBakke t1_j37trbt wrote

I’m familiar with this difference from friends overseas. They think it’s weird to use a third party non-bank, I think it’s weird people have their identity and the bank can see all transactions.

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Ncsu_Wolfpack86 t1_j3e6z9w wrote

This is true but Denmark also has a very common cash transfer app. You can also pay in a decent percentage of stores with it, too.

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