Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/59205
Authors: 
Shy, Oz
Year of Publication: 
2010
Series/Report no.: 
Public policy Discussion Papers, Federal Reserve Bank of Boston 10,1
Abstract: 
The paper investigates the reasons why person-to-person electronic funds transfers are still not very common in the United States compared with practices in many other countries. The paper also describes recent enhancements to online and mobile banking that provide account holders with low-cost interfaces to manage person-to-person electronic funds transfers via automated clearing house (ACH). On the theoretical side, the paper characterizes the critical mass levels needed for payment instruments to become widely adopted. Given the Fed's long-term heavy involvement in check clearing, the paper concludes with policy discussions of whether intervention is needed.
Subjects: 
automated clearing houses (ACH)
person-to-person electronic funds transfers
account-to-account transfers
online banking
mobile banking
JEL: 
E42
G29
D14
Document Type: 
Working Paper

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