Same-day money transfers between banks
Tuesday, 27 May 2008 13:33I wonder when that capability will come to Germany.
As far as I know, payments are mandated by law to be credited to another account on the next business day, but same-day service isn't that common. (Sometimes not even in between accounts at the same institution.)
I suspect this is a hold-over from the good old days when everything was (is) batch-processed by huge main-frames during the night, rather than having "instant" transactions.