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Today my bank sent me a note saying that ACH payments for both credit and debit cards will only take 1 day to process.
by horsecaptin 9y ago
Today my bank sent me a note saying that ACH payments for both credit and debit cards will only take 1 day to process.
- lemonycracket 9y agoI always love it when they say bitcoin is slow and takes 10 minutes. Show me a bank that can transfer money anywhere on the world in 10 minutes...
- sciurus 9y agoThey talk about this a little in part 3: > An addendum to the ACH protocol to support same-day ACH settlement is something that is almost unanimously desired by the ACH community. The good news is that NACHA, the governing organization behind ACH, has recently announced plans to roll out a same-day ACH protocol. The challenge is coordinating the adoption of the new protocol across all participating banks. Once fully implemented, the same-day ACH system would likely cut one day from the timelines outlined here. http://engineering.gusto.com/how-ach-works-a-developer-perspective-part-3/ http://engineering.gusto.com/how-ach-works-a-developer-persp...
- hrrsn 9y agoHere in New Zealand, most inter-bank transactions are cleared hourly during business hours. It's incredibly nice.
- ralmeida 9y agoHere in Brazil, it may be a couple minutes during bank hours (10 AM to 4 PM).