1. Can your cash do this? [1] A breakdown of spending by my internet bank, by category.
4. In Sweden, and some other European countries (and China?) a lemonade stand works by person-to-person bank transfers, initiated using a mobile phone app. The Swedish one is called Swish, but I link to the Danish one [2] as they have an English explanation.
People really do use these apps for things like lemonade stands. I've seen an unattended garage sale, where everything was priced and a sign gave a phone number for payment.
It's also commonly used person-to-person, e.g. if a friend owes me for a spare concert ticket, part of a restaurant bill or whatever.
>1. Can your cash do this? [1] A breakdown of spending by my internet bank, by category.
No, neither can it break down my spending habits for the banks, the government, and anyone else with access (authorized or not) to that data. One of the most important reasons I use cash.
> 4. In Sweden, and some other European countries (and China?) a lemonade stand works by person-to-person bank transfers, initiated using a mobile phone app. The Swedish one is called Swish, but I link to the Danish one [2] as they have an English explanation.
The United States has this via Venmo. But Venmo doesn't replace business transactions, only personal ones.
Unlike Venmo, Swish lets you transfer money instantly between bank accounts. There are no social features like profile pictures, emojis, or public transactions. And it uses proper authentication, rather than typing your banking password into a third-party app.
Venmo falls well short of the transfer apps in most countries.
It's in Danish crowns, so more like $150, and I also moved it away from a month.
Also, I can recategorize any transaction, or all transactions from any merchant. I think I set the canteen at work to "fast food", as it's a food category I almost never spend in otherwise.
(The interface is the default view of my online banking, but otherwise, I don't use it. It's very swish, but fortunately I don't need to budget this way.)
The verbification of a foreign language word easily becomes awkward: "Mobilpayer du mig lige 50?". Yes, Denmark is so anglofile they chose an English word for a Danish payment service.
4. In Sweden, and some other European countries (and China?) a lemonade stand works by person-to-person bank transfers, initiated using a mobile phone app. The Swedish one is called Swish, but I link to the Danish one [2] as they have an English explanation.
People really do use these apps for things like lemonade stands. I've seen an unattended garage sale, where everything was priced and a sign gave a phone number for payment.
It's also commonly used person-to-person, e.g. if a friend owes me for a spare concert ticket, part of a restaurant bill or whatever.
[1] http://i.imgur.com/Smkim6Vr.png
[2] https://mobilepay.dk/da-dk/Pages/The-story-in-English.aspx