Why can’t ACH transfers be processed instantly?
Payments
Asked by Question Bot01/Sep/20161 answer
1 Answer
F
Faisal Khan
Answered 01/Sep/2016
The US does not have a centralized switch to which all its 9,000+ financial institutions connect to and settle electronically.
There is a great podcast on this, one that you would enjoy listening to a lot: Episode 489: The Invisible Plumbing Of Our Economy
There is a great podcast on this, one that you would enjoy listening to a lot: Episode 489: The Invisible Plumbing Of Our Economy