4 ms·
...How long did it take a transfer to settle in the 2000s
by dpoloncsak 1y ago
...How long did it take a transfer to settle in the 2000s
- deleted 1y ago[deleted]
- manquer 1y agoWell… cash was and is still instant. When doing large enough transactions that makes cash cumbersome, the slowness is a feature not a bug. We would want multiple reviews and time before it settled. The value of $100 bill was much higher in 2000 and in 1969 when it became the highest denomination in circulation, so you could transact much higher value with a “wad of cash” than today. Before 1969 we had bills up to $10,000 for a reason, they served like a credit note/T-Bill from the government, they were no longer needed after banking became robust enough for Cheques/P-Notes etc to replace them. Paper Cash or Gold/silver coins before them are well understood solved problems, with thousands of years of experiments on size, security ,seigniorage and so on.
- toast0 1y agoWires have been fast, during banking hours, for a long time. Expensive, though.