Why the most common payments method in the U.S. can leave you waiting days to access funds
Perhaps RTP is set to improve these times (long before crypto), as fraud is PERHAPS disproportionately (2-10x) more likely with relatively new accounts vs established ones?
When I was working for a startup in 2007, I came across the term ACH for the 1st time. The use case at that time for ACH pull from customer's bank account into their trading account for those who have agreed to monthly transfers. I understood high-level what happens. Few years ago, I understood NACHA rules and batched ACH payments.
This post from you helps me see under the hood and get the full picture. Many thanks! Looking forward to your next post.
This is WILDLY useful!