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Two to three days to arrive? Why? In Australia, our regular banking system lets you register your mobile phone number (or business/company number or email) as
by stephen_g 7y ago
Two to three days to arrive? Why?
In Australia, our regular banking system lets you register your mobile phone number (or business/company number or email) as a 'PayID' and then that's all the info you need to send somebody an instant payment... Even our older system usually only takes until the next afternoon or morning on a business day (I believe the older inter-bank payments are settled in two batches per business day).
- tom_mellior 7y agoThere is certainly no technical reason for the delay, a transfer should just be a transfer of a few bytes of information. I think the usual explanation is that this system gives banks a pool of money that they are always free to invest in the time that it's neither in the original owner's nor the recipient's account.