Same day ACH: moving payments faster in the USA

Re:Same day ACH: moving payments faster in the USA by mhluongo on Friday August 25, 2017 @07:24PM (#15103033)

If Bitcoin can do it in 10 minutes globally, we can do it faster in a centralized system.

Edit: ... Not to mention many other developed nations' banking systems.

Edit: Not sure about the downvotes, but really- please don't pretend sending money instantly within one country is rocket science. The reason we're in this mess is mostly banks wanting to hang onto float, and legacy. Both our neighbors to the north and south have much speedier internal banking systems than we do, as do countless other countries.

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Re:Same day ACH: moving payments faster in the USA by Animats on Friday August 25, 2017 @07:41PM (#15103133)

Try to get anything out of a Bitcoin exchange in 10 minutes.

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Re:Same day ACH: moving payments faster in the USA by andirk on Friday August 25, 2017 @09:33PM (#15103589)

To fiat that'll take a while, but moving it around the space cash world is often very quick, on GDAX anyways.

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Re:Same day ACH: moving payments faster in the USA by mhluongo on Friday August 25, 2017 @07:51PM (#15103190)

I do it for a living.

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Re:Same day ACH: moving payments faster in the USA by zaroth on Saturday August 26, 2017 @12:18AM (#15104033)

How do you query the card balance and transfer the funds? Do you actually get cash out of the card, or do you have to resell it as a store credit to someone else?

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Re:Same day ACH: moving payments faster in the USA by mhluongo on Saturday August 26, 2017 @01:27AM (#15104212)

Long story, and it very much depends on the brand. Re: cashing out, we do both transfers and resale, depending on the user risk profile.

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