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0 pointssystem22y ago0 comments

So something like Stripe would benefit from this?

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Basically you know how you can ACH payments from your account to someone else’s and back but it only happens the next morning as long as the next morning is a business day? Now it would happen instantly on any day.

freddie_mercury2y ago

ACH has had same day payments since 2016. If your bank takes until "next morning" then that's your bank's problem, not ACH's.

https://www.nacha.org/resource-landing/same-day-ach-resource...

That said, FedNow is still an improvement over ACH. ACH is fundamentally batch-based processing, they just run the batch multiple times per day now. And all the batch times are East Coast biased, so people on the West Coast get worse service.

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IgorPartola2y ago

freddie_mercury2y ago

ACH has had same day payments since 2016. If your bank takes until "next morning" then that's your bank's problem, not ACH's.

https://www.nacha.org/resource-landing/same-day-ach-resource...

j / k navigate · click thread line to collapse