Re:Australia’s new real-time banking payments platform
by thejosh on Tuesday February 13, 2018 @03:49AM
(#16365676)
Here in Australia, bank transfers are free between banks, but can take a couple of days to clear sometimes (same bank is instant). Heard horror stories elsewhere, but pretty good customer experience here in AU IMHO.
[ Parent
| on HN ]
Re:Australia’s new real-time banking payments platform
by adrian_mrd on Tuesday February 13, 2018 @04:10AM
(#16365751)
Yeah bank transfers have always been reliable for me in sunny Australia but the issue pre-the NPP is the time it takes to transfer inter-bank and/or inter-credit union.
It’s particularly a ‘problem’ when your payments are delayed by public/bank holidays (especially those that only occur in a bank’s home state!) and feels particularly anachronistic compared to modern payment gateways.
Out of that $1bn AUD, probably half is on banker’s wages :P