[JamesPeterson]

Wait. What?

In Australia, we have "EFT" - electronic funds transfer (between banks). Typically, there's no cost and it's accepted between all banks. If you have to transfer to another bank though, it can take one business day.

We also have BPay, which is simpler and a little easier.

The USA seriously doesn't have these?

[marcomonteiro]

It does but it also requires the payee to give away personal information (e.g. routing and bank account number). It also means the payer needs to get this information before they can send money. This is essentially EFT payments but simplified. Instead of needing banking information from the payee you can just send it to them using their email address, phone number or Facebook.

[JamesPeterson]

Oh awesome. Thanks for clarifying :)