4 ms·
I think your 10s transaction is about equivalent to an unconfirmed bitcoin transaction or credit card authorization. How often is the actual bank-to-bank transf
by mahyarm 9y ago
I think your 10s transaction is about equivalent to an unconfirmed bitcoin transaction or credit card authorization. How often is the actual bank-to-bank transfer?
The fact that there is an arbitrary money amount shows it's more of a fraud cutoff than a real limit.
- joosters 9y agoIt's not the same. SEPA doesn't allow double-spends, unlike unconfirmed bitcoin transactions.
- kpil 9y agoIt depends. The banks nets the transactions a number of times during the day, normally using a central bank. In the mean time the credit on your account is debited a 'float' account that accumulates any debt to other banks or third party payment system. Each fast payment system also typically have a reserved amount deposited as a guarantee in the event that a bank runs out of money. It's a real cost to reserve money so there is a restriction on the sums. Can the central banks speed up the settlement? Yes probably, but it's a lot of work to do.