3 ms·
European FX transactions still settle T+2, similar to the US, Canada, and India. T+1 is planned to be implemented in late 2024. If your bank provides an instan
by super256 4y ago
European FX transactions still settle T+2, similar to the US, Canada, and India. T+1 is planned to be implemented in late 2024.
If your bank provides an instant settlement, they are most likely paying you out of their pocket, and therefore taking risk.
- 4ndrewl 4y agoApologies, my post was ambiguous. I meant same-currency transfer to other people (as opposed to between accounts held by the same person) not FX.
- crote 4y agoDoes TARGET TIPS not count as settlement? According to its own website [0], it means "individuals and firms can transfer money between each other within seconds", and "TIPS offers final and irrevocable settlement of instant payments in euro, at any time of day and on any day of the year." [0]: https://www.ecb.europa.eu/paym/target/tips/html/index.en.html https://www.ecb.europa.eu/paym/target/tips/html/index.en.htm...