As someone who spent a lot of time in the UK/EU and is now back in the states, I... | Hacker News

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		mbesto on Jan 23, 2014 \| parent \| context \| favorite \| on: Balanced Will Release an API to Push Money to Debi... As someone who spent a lot of time in the UK/EU and is now back in the states, I'd love for someone with insight/experience in the EU/UK to explain how the economics make it possible for a system of banks to talk to each other without charging the users. The US economics are pretty simple - banks know they can charge for it.

steveklabnik on Jan 23, 2014 [–]

I am from the US as well, and am not a lawyer, but my understanding is basically

TL;DR: regulation

* http://en.wikipedia.org/wiki/International_Bank_Account_Numb...

* http://en.wikipedia.org/wiki/Single_Euro_Payments_Area

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