[kinkrtyavimoodh]

I AM a techie and even I would take RH on their word when they say 'instant'. When I send money to India from a US bank account via an intermediary (so that neither the US bank nor the Indian bank are first-party to the transaction) it is removed from my US account (in USD) and reaches my Indian account (in INR) within seconds, and I can see the balance in my Indian account and spend it right away, so I have no reason to believe it can't happen domestically when it doesn't even involve a currency change.

It's like this in most parts of the world. It's only the perversity of the American banking system where money transfers in this day and age routinely take 2-3 days and no one thinks there's anything bizarre about that.

[didibus]

> When I send money to India from a US bank account via an intermediary (so that neither the US bank nor the Indian bank are first-party to the transaction) it is removed from my US account (in USD) and reaches my Indian account (in INR) within seconds, and I can see the balance in my Indian account and spend it right away

That's actually a lot more complicated. The Banks take loan with one another to make this happen as well from what I read.

[kinkrtyavimoodh]

It might be so, but I don't work in that field, so my perception will be guided by what I see. Which is my point, unless you are intimately familiar with how ACH etc works it's natural to assume that these transfers are near instantaneous.

[mensetmanusman]

It’s a balance, because instant transfer has some bad side effects.

E.g. if a scammer steals all of your money, it would be good to have a day to try to cancel that...

[philderbeast]

reversing transactions is a thing even without putting an artificial delay in the transaction process.