3 ms·
- Instant, ultra-low cost inner-bank transfers. None of this "wait a day (or more)" ACH business or "send money via paypal, but then have to wait a day (or mor
by spookthesunset 8y ago
- Instant, ultra-low cost inner-bank transfers. None of this "wait a day (or more)" ACH business or "send money via paypal, but then have to wait a day (or more) to ACH it into a real bank account". Useful for everything from paying friends back to moving money between two personal accounts.
- ubiquitous NFC-based payment systems
- tachang 8y agoBanks do this so they can gain the interest on the delay. Very annoying though for the end usrr
- jsjohnst 8y agoThat isn’t the whole story, the Federal Reserve and their antiquated process is another major factor.
- GordonS 8y agoWe have this in the UK with "faster payments".
- jsjohnst 8y ago> Instant, ultra-low cost inner-bank transfers. I assume you mean inter-bank. Many US banks do instant transfer between accounts in the same bank, even if different account holders. On the inter-bank front, there’s Zelle that many US banks support that’s instant and free, but it has stupidly low limits. On the kinda instant front (aka under 15min), wiretransfers exist but they are a poor UX universally and have a steep fee generally (my bank does it for free, but I have to have a high end account for that).