Banks are conservative, too. Which is generally good, but that in itself is part of the reason why the process is slow, in addition to genuine concerns about se

Banks are conservative, too. Which is generally good, but that in itself is part of the reason why the process is slow, in addition to genuine concerns about security and reliability. In some ways security isn’t such a big deal for financial transactions, because they can be undone. Checks are very insecure. ACH is insecure because you can take money out of anyone’s account with the information at the bottom of the check, but ACH transactions can be reversed for at least 45 days after they are made. You also have to ask “how much?” How long is it reasonable to wait for change? The system for same day ACH has existed for years. Very few banks have opted in. Should the Fed set a deadline and say, everyone has to be on it by 2020? (It’s the nature of such deadlines that they are be extended, but something will eventually happen.)