this post was submitted on 28 Sep 2026
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[–] Earthwormjim91@lemmy.world 4 points 3 days ago (5 children)

But it’s the same thing. The banks just front the money essentially. The actual transaction doesn’t clear until later.

[–] trxxruraxvr@lemmy.world 11 points 3 days ago

Then they can do that the other way as well

[–] timochka@lemmy.zip 1 points 2 days ago

Nope. SEPA SCT clears in 1 day. SEPA SCT-Inst (already mandatory in Euro area, mandatory in rest of SEPA area from next year) clears in 10 seconds.

[–] Rinox@feddit.it 2 points 2 days ago

If they use SEPA, it's settled instantly.

[–] Darkonion@lemmy.world 3 points 3 days ago

Seems like a good job for a bank, and something reasonable they could do in other countries too.

You got any source for that? From what I read they settle it immediately.