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> FedNow will eventually replace the ACH system Now that's interesting - does that imply that the clearing delays in transfer (say your US Bank to your Brokera
by spinax 5y ago
> FedNow will eventually replace the ACH system
Now that's interesting - does that imply that the clearing delays in transfer (say your US Bank to your Brokerage, ~3 days ACH) will disappear and FedNow makes that an "instant" (within 1 day let's say) settled transfer? Very intriguing.
- mikeyouse 5y agoYep - the goal is to move to ~real time transactions so settlement is instantaneous for most transactions with a much shorter window for settlement for those txs over some threshold (initial working docs said $25k, but it'll likely be larger by the time it rolls out).
- deleted 5y ago[deleted]