Why does it take several business days to move money electronically between two U.S. banks?

Asked Jan 5, 2016· 1 answer ·Americas, Developed Markets, North America, United States

Faisal KhanAnswered Jan 5, 2016

tl;dr: the US doesn't have a real-time RTGS / Payment Switch to which all banks are connected to. Hence, there is a delay in processing payment.

Payment Infrastructure Payment Clearing Domestic Payment Schemes Account-to-Account Payments Americas Developed Markets North America United States

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