Re:Ask HN: Why are credit card chip readers so slow?
by jdmichal on Monday June 26, 2017 @05:40PM
(#14640612)
First, most ACH transactions clear in the same day [0]. Second, that's also completely ignoring newer networks like clearXchange / Zelle, which clears in minutes [1].
"Specifically, the NACHA Operating Rules require that ACH credits settle in one to two business days and ACH debits settle on the next business day. Recent enhancements to the NACHA Operating Rules now enable same-day settlement of virtually all ACH transactions."
[0] https://www.nacha.org/news/what-ach-quick-facts-about-automa...
"Specifically, the NACHA Operating Rules require that ACH credits settle in one to two business days and ACH debits settle on the next business day. Recent enhancements to the NACHA Operating Rules now enable same-day settlement of virtually all ACH transactions."
[1] https://en.wikipedia.org/wiki/ClearXchange