Community Q&A
Questions
3,063 questions answered by experts in payments, banking, and financial services.
Is Ripple fundamentally tied to U.S. dollars or to Bitcoin?
Are routing numbers and ABA numbers identical for both domestic and international banking?
What steps are needed to establish a bank in the United Kingdom?
What requirements must be met to build a payment processor similar to Stripe or Braintree?
How many separate ledgers or copies of the ledger does Bitcoin actually maintain?
Is “financial startup” a meaningful category, and what does it encompass?
What is the most comprehensive method for processing payments online?
If global confidence in the U.S. dollar collapsed, what would likely become the new world reserve currency?
Do bank-to-bank wire transfers count as taxable income?
Where can I cash a MoneyGram money order if I do not have a bank account?
How can a non-U.S. resident open a U.S. bank account if they have already formed a U.S. company?
Can someone who is not a Singapore citizen or resident open a bank account in Singapore?
What is the most affordable method to transfer money from the U.S. to Indonesia or other Asian countries?
What distinguishes a Merchant Service Provider (MSP) from an Acquirer?
Which U.S. banks permit opening an account without in-person branch visits?
Where can I locate former banking C-suite executives who now work as consultants or have retired?
IRS: Does FBAR reporting apply to offshore accounts if the $10,000 threshold was met only briefly within the same day, without remaining overnight?
Are customers more inclined to visit a bank branch if it resembles an Apple Store or a lounge-style environment?
Will Dubai continue its rapid growth, or is its construction boom and economy likely to slow down?
As a consultant in the payments industry, what should you definitely do—and what should you avoid doing?
Why might governments choose to officially recognize cryptocurrencies like Bitcoin?
What are the lowest-cost methods for international bank or money transfers?
Does anyone here believe that Leaf is genuinely disrupting the point-of-sale (POS) payments space?
What are effective ways to receive payments from international clients when PayPal isn’t an option?
Can multiple different people wire money into my bank account without it triggering suspicion?
How do Coinbase and Kraken differ from each other as cryptocurrency exchanges?
What are the most important things to understand about the banking industry?
Has anyone found a fully online-only bank that caters specifically to small and medium enterprises (SMEs)?
Why did the bank place a special stamp in my passport when issuing traveler’s checks?
Can a non-U.S. citizen form a Delaware C-Corp and open its bank account remotely?
Banking in Singapore: Is it possible to open a savings account for children?
Why does a payment aggregator need dedicated teams for fraud detection, underwriting, and risk analysis?
What challenges or risks might Bitcoin encounter in the future?
Is now a favorable time to invest in gold (GLD)?
How do PSPs differ from ISOs within the payments ecosystem?
Can a wire transfer be returned if it fails to go through?
Why is U.S. commercial banking technology seemingly a decade behind that of other countries I’ve lived in?
Why does Braintree require an initial deposit when you open a payments account?
What information is encoded on the magnetic stripe of a credit card?
Are the bitcoins from Mt. Gox effectively removed from circulation, or are they considered stolen and now owned by someone else?
Why do certain gas stations add a surcharge for credit card payments?
Why is there no M-Pesa-style mobile money system in Europe despite its success in some African nations?
What is the main reason you choose one specific credit card over others when making a purchase?
What are some of the best websites or services on the internet where you can spend Bitcoins?
Why do some venues occasionally stop accepting bank cards for a short time?
Who is the largest Bitcoin broker or exchange besides Mt. Gox?
What are the biggest current issues with Bitcoin?
How do banks settle payments internally when payment systems connect to multiple banks?
As data-security demands grow, will credit card processing shift more toward cloud-based solutions?
In which countries is Bitcoin currently banned or prohibited?
What does “finance” mean within the context of banking?
Is there a global online directory of banks?
Who determines the transaction fees charged at a specific ATM?
What are some surprising or lesser-known facts about how banks function and operate?
How can I incorporate EFT functionality into my website?
What creative methods can investors use to move money out of a country that prohibits outbound fund transfers?
Does PayPal operate or work for users in Cuba?
How does an ATM end up capturing or “eating” a card?
At what point and in which places does a currency’s value change—at money changers, in banks, or elsewhere?
What career options exist within the banking industry?
Do cryptocurrencies count as part of the M1 money supply?
Banking: I need a commercial bank that can cash USD checks, pay local salaries, and wire funds abroad. Does it matter if both banks share the same global brand (e.g., Citi, HSBC), or can they differ?
Do any financial institutions consider your prior credit or payment history when relocating to another country?
SWIFT Transfer: I send my uncle €50 weekly via PayPal, he gives cash to my son, and takes a 5% cut plus PayPal fees. It’s cheaper than Western Union—could this be illegal?
As the person issuing the check, can I restrict how long the recipient has to deposit it?
Are we considered a money services business if we issue branded prepaid cards usable only within a specific shopping mall (in most states)?
Which payment gateways are recommended for accepting online payments from U.S. customers?
What is the lowest practical transaction fee a service or app can charge for payments?
How do people link their bank account to an online financial service or app?
Is there a U.S. bank or credit union that lets customers set automatic ACH limits for specific counterparties?
Which option is better: Square or ShopKeep?
If I’m offering SaaS to Asian customers, where should my servers be located?
Who are considered the top payments consultants for e-commerce and m-commerce?
Could a remittance provider like Western Union be classified as a marketplace?
How and where do banks store, retrieve, and update account information?
Which is better for merchants: Square or ShopKeep?
Who are the best consultants for e-commerce and mobile commerce payments?
How is the cost of a credit card transaction split among the various parties involved?
What business models or concepts are uniquely enabled by Bitcoin?
Why is the number of mineable blocks in blockchain systems limited?
Why do banks and services charge fees for wire transfers?
Since physical branches are costly to operate worldwide, what does the future of banking likely look like?
What taxes apply to international money transfers for a UK-based company?
Are there international legal frameworks that thoroughly protect people against theft of their bitcoins?
Is Stripe’s payment system superior to Dwolla’s for developers?
What are the best online resources for learning about automated server provisioning?
For developers, is Stripe a better platform than Dwolla?
What essential things should everyone understand about Bitcoin?
What is the reaction to JP Morgan Chase’s patented Bitcoin-like rival system?
How exactly are market forces reflected and calculated in an exchange’s order book?
Digital Currency: What features of Bitcoin lead to its large price swings?
What global payment option (other than PayPal) can reliably pay freelancers worldwide with a minimum payout of $100?
What is a good solution for U.S. startups that need to provide direct account credit to users in Asian countries?
Who are the best experts for learning about Bitcoin—what it is, how it works, and why people use it—and how can we learn from them efficiently?
Which online payment gateways allow sending money, not just receiving it?
Why aren’t banks typically opened or operated inside shopping malls?
Is it secure to allow a UAE hotel to charge my credit card for visa-processing fees?
In what ways are the insurance industry and banking sector connected?
How can you move your money when relocating to another country?
What is the largest wire transfer ever recorded?