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That's because lots of banking is still fairly manual, and clearing takes 2-3 days in the United States. FedNow should help, but ACH still reigns, and transacti
by forgotmyinfo 3y ago
That's because lots of banking is still fairly manual, and clearing takes 2-3 days in the United States. FedNow should help, but ACH still reigns, and transactions still take time. Ask Congress and the banks why things are still so slow.
- lenerdenator 3y agoWasn't Check21 supposed to alleviate some of that? Or, at least, that was "the new thing" when I worked as a bank teller for a summer job 15 years ago. I vaguely remember it being promised as a way to make transactions faster.