[cuuupid]

I don’t know how this devolved into an America bashing thread but it’s worth noting that cheque transactions have other causes. You could make the same argument about the popularity of cash as a payment method abroad.

ACH sucks but Zelle is at least second party; every major bank supports it and I don’t need any details to transfer money beyond their phone number.

[happymellon]

I didn't mean for this to be an American bashing thread I'm just surprised that it's taken this long.

Zelle is not universal, I think it's around 20% of banks/credit unions don't support it, and has high fees associated with it. It's good to see the Fed doing something about it.

[lotsofpulp]

I have never seen an fee associated with transferring money with Zelle.

[happymellon]

That has to be the worst take in this entire thread.

Zelle does a debit charge over the Visa and MasterCard networks. Larger institutions get discounts on these networks through volume agreements, while smaller ones have to eat the larger charges per transaction because larger banks don't pass their smaller costs on.

[raverbashing]

Well, cash is cash, I don't think its use is mainly due to lack of technology access (for the most part)

Apart from cashier's cheques (which also are pretty rare in places with functioning quick payment systems) what do you think are the other uses of cheques?