Bitcoin is often touted as the most convenient way to send and receive money from others the same day. It is certainly true cryptocurrency is a much quicker way to transfer money and have transactions settled. But over in the US, the banks are not resting on their laurels either, as they introduced same-day ACH transfers on Friday.
Same-day ACH To Be Enabled Soon
It is due time Americans get access to faster payments, as the demand for such a service has been overwhelming. Consumers and merchants are tired of waiting one – or several – business day[s] until funds is cleared in their bank account. Same day ACH is the answer to all of these problems, although only the first place will be rolled out, for now.
This development means consumers and enterprises can send and receive payment on the same day over the ACH Network. Transactions will be completed the very same day, which is a significant step in the right direction. It is up to individual banks to enable this option, though, but experts expect this should not be a problem.