Everyone has a bank account number for deposit that can be public, just like a telephone number.
To send money, you log in, paste the number and amount, and hit the send button. If both parties use the same bank, the transfer is immediate, otherwise, it happens at 10pm that night.
There are no "~$25 Wire fees" or delays or other nonsense, which makes tiny bank transactions possible, like here's $1.25 for a cookie, as well as paying rent a breeze. Just like it should be.
When I came back to the US and had to write a paper check again (that wouldn't clear for a week) I was quite disgusted.
