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Banking is a "consistent eventually" system, with delays in days. But why does it work within the same day (or partially virtually instantenous) with SEPA paym
by CaptainZapp 7y ago
Banking is a "consistent eventually" system, with delays in days.
But why does it work within the same day (or partially virtually instantenous) with SEPA payments 1) between banks in different European countries?
Why isn't there such a thing as IBAN 2) outside of Europe, which really helps to make bank transfers seamless and unambiguous?
It sometimes seems that regulation and standardization is not such a bad thing.
1) https://en.wikipedia.org/wiki/Single_Euro_Payments_Area
2) https://en.wikipedia.org/wiki/International_Bank_Account_Number