Why does a bank payment takes a long time to be received, especially if there is a weekend in the middle?
In: 123
Nothing to do with technology available and 100% the bank cannot be arsed updating.
In Australia we have instant pay where you can tap your money to another person. Super useful since our restaurants often refuse to split the bill.
The dirty thing is that most banks have a concept of “do now, process later” and they aren’t applying that to everything. In Canada I can instantly cash a check via photo or machine, if the amount I enter it turns out to be incorrect they adjust later. Do now, process later.
I think there is also some merit to the fact that they want to hold on to your money for interest but honestly I think banks are just extremely cheap when it comes to innovation that doesn’t help themselves.
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