> An ACH transaction between two North American banks usually arrives on the next business day (if you place it before the cut-off time). I keep hearing this,

> An ACH transaction between two North American banks usually arrives on the next business day (if you place it before the cut-off time). I keep hearing this, but out of the many banks I've tried I've never once seen this happen. I just looked at a recent transaction; email shows I initiated it at 9:18am PST on Jan 30 (which could be past the cutoff if it was noon EST), the withdrawal account shows the money deducted on Jan 31, and the deposit account shows it landing on Jan 1--one business day, right? Nah, or at least I'm not informed of them on those days. I don't see them show up for another day or two. When the money does show up in the account, it's often "not available" for another day or two. I'm just one dude who happens to have a few different banks for savings and my wife's account and tries to pay bills on time. This was also a thing when I was pooling money for a mortgage downpayment. I can't imagine running a business. It frustrates me that for a country that deifies financial markets and capitalism will ignore liquidity like this (even between accounts owned by the same entity). 1 business day (before the cutoff!) still isn't that great. The docs I found about same-day ACH said it was approved in 2015 and only rolled out last year...and it looks like they charge a fee per transaction[1][2] [1] https://web.nacha.org/system/files/resource/2017-08/Same-Day-ACH-FAQ-2016_0.pdf https://web.nacha.org/system/files/resource/2017-08/Same-Day... [2] https://content.capitalone.com/TMgmt/images/Same_Day_ACH_%20FAQ.pdf https://content.capitalone.com/TMgmt/images/Same_Day_ACH_%20...