> it's not an accident that they make it so difficult.
The easy direct funds transfers in other countries shows that it is an accident.
In Australia, opening a bank account requires applicants to show sufficient ID (the 100-points check[1]). It was intended to cut down on money laundering and tax evasion, but as a happy side effect banks have very high assurance about who money is moving from and to.
That means that direct deposits don't require the heavy validation that a cheque does. So such transfers are free and usually settle in 24 hours. Often the same day.
The easy direct funds transfers in other countries shows that it is an accident.
In Australia, opening a bank account requires applicants to show sufficient ID (the 100-points check[1]). It was intended to cut down on money laundering and tax evasion, but as a happy side effect banks have very high assurance about who money is moving from and to.
That means that direct deposits don't require the heavy validation that a cheque does. So such transfers are free and usually settle in 24 hours. Often the same day.
[1] http://en.wikipedia.org/wiki/100_point_check