Currently, bank customers have to wait up to several days for transactions to pull through to their accounts.
The Federal Reserve announced Monday it would develop a payment system that would allow bank payments and transfers to be made instantly and round-the-clock. Bank customers currently have to wait up to several days for transactions to pull through, a slower pace than in many major economies. The announcement came after major pushback effort from some of the largest banks, which have launched their own efforts to build such a system. Visit Markets Insider for more stories.
The Federal Reserve announced Monday it would develop a payment system that would allow bank payments and transfers to be made instantly and round-the-clock. Bank customers currently have to wait up to several days for transactions to pull through, a slower pace than in many major economies. The announcement came after major pushback effort from some of the largest banks, which have launched their own efforts to build such a system. Visit Markets Insider for more stories.
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