3 ms·
Isn't this 7-day hold just an internal Stripe policy though? The new faster transfers are just the normal ACH speed.
by smackfu 13y ago
Isn't this 7-day hold just an internal Stripe policy though? The new faster transfers are just the normal ACH speed.
- jhoon 13y agoYou're correct -- Stripe self-imposed the seven-day delay early in its development. While we may have chosen the seven-day delay, there are still a number of real challenges in moving to a faster transfer schedule. For example, we need to make sure funds are received from our banking partners in time to transfer them to our users. (I work at Stripe)
- praxeologist 13y agoI don't see why Square can start the ball rolling the next day but you need anything near 7 days delay. I figured it was just a way to make more money.
- tibbon 13y agoThe standard ACH process however just seems slow. Maybe I've been playing with Crytocurrency too much, but it seems in the era of sub-millisecond stock trading... we should be able to figure out how to move $100 one account to another in 5 minutes or so...
- smackfu 13y agoYeah, it's pretty terrible in an e-commerce context. Get a payment, wait seven days to see if it actually gets settled. The only auth you can do up front is that the numbers look correct.