The thing that most puzzles me about US banking is the fact that wire transfer (expensive) is the only reasonably real-time electronic transfer mechanism. ACH

The thing that most puzzles me about US banking is the fact that wire transfer (expensive) is the only reasonably real-time electronic transfer mechanism. ACH ("direct debit") transfers take 1-3 business days to come in, and can only clear on business/banking days, and only after the bank opens, at 9 AM! That means someone is actually sitting there and clearing the transactions manually! WTF? Is this 1954? When my UK friends initiate a transfer from Paypal to their bank, it hits their bank instantly, any time! 3 AM on Sunday morning? No problem. As I understand it, the same is true throughout much of Western Europe. Only I'm stuck broke until the bank opens on Tuesday so my "electronic" transfer can "clear". Yes, I'm aware of the fact that they probably realise substantial profits on the interest-free floats. I don't really care about the reasoning for it; the fact is, it's absolutely absurd.