Fed’s new instant payment system could be trouble for PayPal, Venmo - eviltoast
Banks serving as guinea pigs for Federal Reserve’s instant payments system
arstechnica.com
The Fed's goal is to connect 9,000 financial institutions nationwide.

Fed’s new instant payment system could be trouble for PayPal, Venmo::The Fed’s goal is to connect 9,000 financial institutions nationwide.

  • Whirlybird@aussie.zoneEnglish
    7·
    1 year ago

    Here in the US it’s only instant if it’s coming out of your account.

    If it’s coming out of the bank’s account

    Can you please explain the difference here, because that doesn’t make sense to me. When am I ever transferring money out of the banks account instead of mine?