[dkjaudyeqooe]

> Or, there's something called ACH which you can use to pay bills and businesses can use to send you money (e.g. paycheck deposits), but ordinary banking customers can't use ACH to send money to each other.

This is possible with some bill payment systems with some banks. You can send anyone money and it is either transferred via ACH or they send a physical check. The big banks generally don't support this.

I agree that ACH is broken because you can't use it to transfer money to anyone.

[wiredfool]

It's not broken, _tons_ of money goes over it every day.

It just has basically no internal security once you get past the gatekeeper (your bank), and optimistic concurrency, and it's reversible.