why do banks need an extra day to process paychecks after ‘bank holidays’ when almost everything is automatic/digital?
In: 3758
Part of this is that it will litterally take an act of congress to change how information is transferred between banks. Banks are required to ise the Fed as their clearing house and follow their rules. New technology makes it possible to transfer faster? Sorry, 60 year old laws states we can’t change. Call your congressperson to get it changed.
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