4 ms·
By that logic it works the other way too. They miss out on interest on funds that were delayed in being sent to them.
by nrmitchi 4y ago
By that logic it works the other way too. They miss out on interest on funds that were delayed in being sent to them.
- notch656a 4y agoPrisoner's dilemma. slow-slow is the stable equilibrium point, even though fast-fast is just as good or better. The other 'prisoner' can always beat your fast by going slow, so they pick slow so they can't lose.
- nrmitchi 4y agoBut ACH isn't an ungoverned system where parties get to just behave in their own best interest. It, and the timing/behaviour, are governed by the NACHA Operating Rules. If you are being a bad party and failing to submit transactions on time so that you can collect a bit of extra interest, you are going to get a very large hammer brought down on you.
- xboxnolifes 4y agoNobody said anything about not being on time. Just not fast.