Why are bank wire transfers so slow? European banks are legally

South Korea has fast wire transfers, apparently

>I was just in South Korea this past year and back transfers are instantaneous. You transfer the money on your cell phone bank app and the recipient waits to get confirmation on their cell phone bank app that their bank received the money and deposited it into your account. It happens within seconds. A lot of transactions are done this way. That's actually how we got our deposit back on our rental. They inspected the apartment and then transferred the money into our accounts immediately.

Mexico has fast transfers

That's fucked up but they have an incoming and outcoming sessions set up at different hours throught the day.
One bank can have sessions at 9:00, 12:00, 17:00 and another at 11:00 and 15:00.

Sometimes tou can transfer funds faster with additional fee. The delay is artificial to get money of off you for faster execution.

I'm in Chile and we also have instant transfers between banks inside the country.

>>2963665
Same in UK.

>>2962136
Because the banks are making money if they don't give it to you yet.
In the US you like to get fucked by the "free market" and are afraid of regulation.

You like to have companies fuck you in the ass for some reason. Americans are brainwashed.
Regulations make sure that consumers are not abused.

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>>2963738
>America
>Free market
>Afraid of regulations
LMAO how young are you

https://youtu.be/9Yg14cdcLoo