From what I've seen, most banks process money during night batches and once during the day around lunch time. Some resources I found say that during the day most banks process transactions at 10:30, 13:30, and 16:30.
I always considered this as "the way things are", but now I wonder why don't do it more often? Once every hour for example.
Is there a reason why banks process transactions and transfer money to each other so rarely? I understand that some transactions take more days to be processed because of fraud risk, or that they wait for credits and debits to cancel each other out and transfer less money, but the transactions that get processed at 13:30, for example, why not process them sooner?