• railsdev@programming.dev
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      1 year ago

      It’s been a hot minute but IIRC it’s “next day” or “same day” but opt-in on the bank’s side. And of course a bank will never tell you flat out what they use.

      I might be petty on this topic. Many times in my life I’ve been screwed due to slow/unpredictable transfers and I go into a research frenzy but I quickly forget the results of said frenzy.

      I’m also comparing this to like, what other countries have. Recently I discovered that in the Philippines you can instantly move funds between two debit cards simply by using the card details. It’s like the Visa/Mastercard proprietary P2P stuff (think Cash App) but at the bank level (ACH).

      • blindsight@beehaw.org
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        1 year ago

        Canada has had e-transfer for ages. You can securely transfer cash to anyone in the country using their email address or phone number. If you have auto-deposit enabled it’s instant, too.

        Oh, and it’s free. It only costs money if you use the e-transfer system to request money from someone (for obvious reasons.) And even then, it’s only like $1ish.

        The US not having a system like that is frankly ridiculous.