4 ms·
Most cryptos are faster than any type of wire transfer except card payments.
by yani 8y ago
Most cryptos are faster than any type of wire transfer except card payments.
- isostatic 8y agoI transferred some money on Thursday from one uk bank account to another at another institution. Took less time than to log on to the second bank to confirm it had gone through.
- psergeant 8y agoSure, if you don’t factor in the conversion to and from money that can be used to buy groceries and petrol.
- Symbiote 8y agoNot necessarily, in Europe. Many electronic bank transfers are approximately instant.
- madeofpalk 8y agoVery US-centric. Elsewhere in the world "wire transfers" - transferring money from one bank to another happens more or less instantly. When I pay myself from my business account and it happens just about instantly. Max I've ever waited was like 15 minutes. Using Transferwise, a friend from Australia paid me back in the UK and it went through in like 1 hour.
- def_true_false 8y agoIsn't Transferwise basically just using their accounts in both banks to achieve that, and rebalancing them later (if necessary)? That's not really representative of the performance of the banking system, is it?
- madeofpalk 8y agoFor the international part, yes, but still the Me > transferwise and transferwise > friend transfers are "wire transfers" and both of them happen fast enough for the whole transaction to be completed in just a few hours.
- deleted 8y ago[deleted]