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Yes the settlement happens almost instantly even for international transactions. It’s the bank that allows the transaction or not; not the payment network.
by csomar 4y ago
Yes the settlement happens almost instantly even for international transactions. It’s the bank that allows the transaction or not; not the payment network.
- patio11 4y agoThis is not the usage of the word "settlement" which prevails in the financial industry, which tends to use it to describe the transfer of funds to give effect to a promised transaction. It is factually not the case that credit card payments generally settle instantly. It depends on many factors but typical timelines are a few days to about a month, largely dependent on which network is at play and where the business getting paid is. (For complex reasons, prevailing settlement times in some countries are long compared to most HNers expectations.)