```json
{
    "title": "US Banking: WTF?",
    "url": "https://performancezen.com/2005/04/21/us-banking-wtf/",
    "datePublished": "2005-04-21",
    "dateModified": "2022-04-25",
    "language": "en-US",
    "description": "SOGrady has some comments on the US Banking system. [here] I have yet to figure out the US Banking system. I have lived in this country for 6 years, and…",
    "author": "spierzchala",
    "publisher": "Performance Zen"
}
```

# US Banking: WTF?

SOGrady has some comments on the US Banking system. [[here](https://web.archive.org/web/20050422225316/redmonk.com/sogrady/archives/000628.html)]

I have yet to figure out the US Banking system. I have lived in this country for 6 years, and what banks do here seems so 19th century. In Canada, when you use the nationally accepted electronic debit system (InterAC), the money is gone from your account. Now. Like, **Right Now**. Not sometime within the next 1-30 days.

When I pay my bills online, the money is taken out...sometime.

We gave up on electronic transfers from the US to Canada, relying instead on the Ground Yak method: when we move money home, we send a real cheque to our Canadian bank.

How hard can it be? How can the banking system in the US be so outdated that it is the laughing stock of third-world nations?

Please...I really want to know.