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I was thinking that they added this delay so that they could profit from everyones money for a few days, continuously.
by ytdht 11y ago
I was thinking that they added this delay so that they could profit from everyones money for a few days, continuously.
- jslampe 11y agoThis used to be a big thing, but since Check 21 and truncation that amount of money banks made has been severely marginalized. The big reason stems for risk. The 2-3 allows the receiving FI to mitigate, IIRC, around 70% of the risk associated with the most popular types of rejects. (e.g. insufficient funds)