New ask Hacker News story: Why are wire money transfers so much easier in Europe than in North America?

Why are wire money transfers so much easier in Europe than in North America?
5 by fermier | 7 comments on Hacker News.
On a recent trip to Czech Republic and Germany I learned about just how easy it is to send money between bank accounts. From autogenerated QR codes that folks can scan to send money, to paying bills in restaurant directly from their bank accounts, I was surprised just how easy it is. Money moves immediately, minimal fees, no third-party vendors or credit card companies profiting on top of it. On the other hand, in Canada, you have to go through Interac, Paypal or other vendor to send money immediately, or have to go in person to a branch to initiate a wire transfer, which can take days. Why are banks not pushing for easier solutions around this? I don't understand why it is impossible to just initiate a wire transfer online, if I have all the necessary info (IBAN). If this was about fraud detection, how are banks in Europe handling that?

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