4 ms·

Don't know if this is true, but I read this a few years ago, top answer: https://www.reddit.com/r/explainlikeimfive/comments/se51wb/eli5_ach_deposits_why_do_the

• Tadpole9181 1y ago
  I've seen a "pay me a few bucks and I'll do it instantly", so pretty sure it's not a technical issue. It's a "we can charge a few bucks if we don't fix it" issue.
  • fredfish 1y ago
    I had a bank VP tell me Bill Clinton fixed the US' deficit by moving tax settling to be immediate on them. The strings of my little fiddle broke.
  • quesera 1y ago
    Definitely not a technical limitation. ACH clearing (transaction information) happens multiple times per day. Originating bank sends a list of transactions to the clearing house, Receiving bank is notified of transaction pending. ACH settlement (bank-bank funds transfer) happens overnight. Funds from the Originating bank are "rehomed" to the Federal Reserve, and then again to the Receiving bank. This is, obviously, a database update. ACH posting (funds available to customer) happens whenever the Receiving bank feels it's appropriate. Generally, by local close of business on the settlement lot schedule (same day or next day). The receiver may choose to delay posting to customer account if they don't trust the Originator, or the customer, or just for fun. ACH transactions are reversible. This is the reason posting happens as quickly as it does (!), but also the reason posting takes as long as it does.