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Australian banks run a gross real time settlement system (the same goes in new zealand). In theory this means certain classes of bank payments should clear near
by phyalow 13y ago
Australian banks run a gross real time settlement system (the same goes in new zealand). In theory this means certain classes of bank payments should clear near instantly.
- SyneRyder 13y agoWorks in practice too. Within the same banking institution, I can send money via EFT to a non-related account, and that person can see the funds in their account & withdraw it from an ATM within minutes.