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> Yes, it would be easier if we could just trust our banks to offer instant settlement and very low fees, but they don't. I think everywhere but America has al
by idontwantthis 1y ago
> Yes, it would be easier if we could just trust our banks to offer instant settlement and very low fees, but they don't.
I think everywhere but America has already figured this out.
Instant bank payments are pretty standard everywhere else, even third world countries.
- hx833001 1y agoThe US banks just won’t do it across the board unless it is mandated like ACH. Many in the banking system feel comfortable with this FedNow rollout taking many years. It’s ridiculous.
- whimsicalism 1y agonot between countries
- Yizahi 1y agoLast time I paid for something across borders, transaction has completed in less than 10 seconds and I got both updated state in outgoing bank account, and at the receiver side.
- whimsicalism 1y agodoesn’t work for all countries, transfer limits, have to trust some custodian, etc. etc.
- ForHackernews 1y agohttps://en.wikipedia.org/wiki/FedNow https://en.wikipedia.org/wiki/FedNow does instant settlement in the US.