Timeline for Why are bank transactions not instant?
Current License: CC BY-SA 4.0
6 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jun 25, 2019 at 14:29 | comment | added | Corvus | Nah, not even close. The restriction on bank activity is capital not actual money - remember the banks have the power to create money. The money the banks are loaning out and doing these activities with isn't funded by the delays in payment transactions, banks always have way more than enough access to money for these purposes, it's capital that is scarce. | |
| Dec 4, 2018 at 18:35 | comment | added | user71659 | There are ways to allow banks to keep their float while making transactions instantaneous, specifically by having banks exchange irrevocable promises to pay, instantly, then moving funds on a netted basis later. This is how Visa, Mastercard, Zelle work. | |
| Dec 4, 2018 at 11:35 | comment | added | Pete B. | They could be dealing with legacy systems that are not easy to replace with "automation". | |
| Dec 4, 2018 at 11:25 | review | Late answers | |||
| Dec 4, 2018 at 11:35 | |||||
| Dec 4, 2018 at 11:10 | review | First posts | |||
| Dec 4, 2018 at 11:35 | |||||
| Dec 4, 2018 at 11:09 | history | answered | Maxim J | CC BY-SA 4.0 |