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> bankers making interest while the money sits in limbo, I guess This is a common refrain. Has anyone ever actually done a calculation to show that it's a sig
by tome 9y ago
> bankers making interest while the money sits in limbo, I guess
This is a common refrain. Has anyone ever actually done a calculation to show that it's a significant amount, at least enough to disincentivise building a quicker payments system?
- maccard 9y agohttps://www.nacha.org/news/ach-volume-grows-more-25-billion-payments-and-43-trillion-value-2016 https://www.nacha.org/news/ach-volume-grows-more-25-billion-... says 43 trillion usd was transferred using ach. With 365 days a year, that's 100 million a day, and 5% would be an extra 5 million a year... seems pretty worthwhile to me!
- soVeryTired 9y agoDivided across an industry the size of the US banking system it's not that much.