this post was submitted on 24 Jul 2023
303 points (98.7% liked)

Technology

59475 readers
5277 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
L3s
[email protected]
[email protected]
L4s
enu
303
Fed’s new instant payment system could be trouble for PayPal, Venmo (arstechnica.com)
submitted 1 year ago by L4s to c/technology
70 comments fedilink hide all child comments
 

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

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 7 points 1 year ago (1 children)

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?