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?
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Depends on legislation or lack thereof, within EU payments are close enough to instant. But outside that you quickly run into quintessential problem of banking, if bank A owes money to bank B, how does bank B know bank A is good for it? When you do a bank transfer no actual money moves, it’s just I.O.U-s changing hands, if you don’t have things cleared beforehand then it takes time an effort to check things and that makes things slow and expensive. Even in EU, I’m sure there is some upper limit to how large transfer are cleared instantly, if someone tries to move billions I don’t think automatic systems are just going to rubberstamp that through.
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