Fed announces details of new interbank service to support instant payments

Re:Fed announces details of new interbank service to support... by ryanackley on Monday August 10, 2020 @12:09PM (#24110762)

This is typical around the world. This is probably because it's a very practical way to limit losses if someone did gain access to your online banking.

When I lived in Australia, which I believe has a very modern banking system, I couldn't instantly send more than $5k a day. The one time I needed to send more money, I was fine with going into a branch.

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Re:Fed announces details of new interbank service to support... by egourlao on Monday August 10, 2020 @11:32PM (#24116917)

FWIW the app for my ING bank account in the Netherlands allowed me to move up the slider allows me to move up the slider for daily transfers up to 50k euros. A little scary, but thought it could be handy if I need to move money around one day. Probably a different regulatory context, though.

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Re:Fed announces details of new interbank service to support... by krageon on Tuesday August 11, 2020 @07:50AM (#24119341)

You can up the limits at any decent bank using some sort of MFA solution without physically going to a branch as if it's 1980.

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