I do direct bank transfers every week with no problem. $10K normal limit but I have had a temporary limit increase twice allowing $50K & $100K. Never a problem. We have OSKO instantaneous transfer so it is in the other account within a minute for most banks. We don't have any credit cards so it makes it much easier when you want to purchase things.
This is a common payment method here in Germany.
A "bank transfer" is something
I actively initiate. With a "direct debit" (?),
a creditor deducts the money from my account after I have given permission. This is how we usually pay our electricity, car tax, insurance, anything that is recurring.
The important difference is that I can't withdraw a transfer once I've initiated it. But I can object to any
direct debit and usually get my money back first.
For some years now, it has also been possible for a company to initiate a
transfer for me via a payment portal. In this case, you have to enter the password of your bank account (!) via a so-called 'trusted' and 'encrypted' and God knows what else for security measures protected system. They claim.
This was introduced for convenience, they say: 'you can pay directly, it's safe and convenient'.
Yes, that's true. But the morons all over the world don't realize that
they are actually initiating a
wire transfer and thus have no chance of ever getting their money back if the payment system has been hacked, the company is a scammer, or the gateway was perhaps written by the developers that programmed the Ineos configurator.
I would
never ever let software programmed by I don't know who get the password to my bank account.
This is what I meant above. Just to clarify the difference between the various payment methods and their pitfalls.
. I'll send the dealer a mail when I receive it.
