Seriously why does it take “3 to 5” business days to take the money from my account when it’s all handled electronically?
In: 294
It did take a lot of arm twisting and the threat of regulation to get this fixed in the UK with the wonder that is the Faster Payments’ system. Now I can transfer money and it take seconds for it to land in the destination account. Banks dragged their heels and would have held onto 3-day clearing and the interest if left to their own devices. The EU also helped with SEPA and various payments’ directives.
The US banking system is antiquated with checks and slow transfers. The banks need a kick.
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