Re:Square obtains NY State cryptocurrency license
by JumpCrisscross on Monday June 18, 2018 @05:30PM
(#17341848)
> In other parts of the world you can transfer between accounts in almost real time
Real-time transfers under $5,000 are free between most American banks. For real-time irreversible transfers up to any amount, the Fedwire system is available. Most banks let large account holders send and receive domestic wires for free. ACH is used for low-cost, gross-settled transfers--it is the cheap, reversible option.
This myth of slow, expensive bank transfers dies slowly.
Real-time transfers under $5,000 are free between most American banks. For real-time irreversible transfers up to any amount, the Fedwire system is available. Most banks let large account holders send and receive domestic wires for free. ACH is used for low-cost, gross-settled transfers--it is the cheap, reversible option.
This myth of slow, expensive bank transfers dies slowly.