this post was submitted on 13 Dec 2023
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[–] [email protected] 23 points 9 months ago (26 children)

So are all PayPal users trans, or just dumb cuz they use proprietary software?

[–] [email protected] 22 points 9 months ago (14 children)

Which open source software can I use to transfer money?

(not crypto)

[–] [email protected] 9 points 9 months ago (13 children)

Why use a third-party at all? It's been trivial to send money via bank transfer for a long time, check your banking app or website and you'll likely find a way to send money with just an account number + sort code. If your country has a system like faster payments the transfer will be near-instant too.

[–] [email protected] 8 points 9 months ago (1 children)

Banks are proprietary software

[–] [email protected] 3 points 9 months ago (1 children)

Okay? But you presumably do still have an account with a bank or building society, right? So why use a third party when you can request a transfer from them directly?

[–] [email protected] 3 points 9 months ago (1 children)
[–] [email protected] 2 points 9 months ago (1 children)

Ironically enough it's the opposite. Banks answer to shareholders, building societies answer to its members. Building societies compete with banks, if they're unheard of in the US that certainly does explain the state of the US banking system.

[–] [email protected] 2 points 9 months ago

We don't have building societies in the US, but we do have similar institutions called credit unions.

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