So I sold stock last Thursday. Why does it take 2 business days for a stock to be sold? Where Crypto and E-payments nowadays take real time. Also I need the money to be wire transfer to international bank. Why does this is not also real-time it will take like 4-7 business days before it will be on my bank account. Why does the transfer not working on weekends? So basically why everything is still slow and why everything can’t be done on weekends?
In: 69
There are different regulations on this depending on where you are in the world – so for example, the EU, UK and Australia all have mechanisms in place for TX to occur in under a minute.
However there are still legacy systems in place for other types of transactions. Have a read about ‘clearing houses’. Not all banks perform their own clearing and will offload to a bigger bank, once you start to get into this the transactions can take time as they go through the validation in each phase. Hence the days wait.
Latest Answers