Things have changed a bit but...
Banks have three different FED windows throughout the day, and when you are literally talking about tens of billions passing through each day....they hang on to it as long as they can
, with most of the "batch processing" ocurring overnight...back in the dark ages. Now many checks seem to be processed just like a debit card transaction when you hand the "store" a check....
Follow the money...though checks are dinos.....Walmart still wants that 2B in their account all day...and not in transit as the bank makes BIG $....timing is money. Now imagine if a huge part of the loot is via CC.....CHACHING fer the banks
.
Missing a FED window transfer by one minute....."somebody" eats the loss....it won't be the FED....usually....unless "I" could "prove" it was their fault...expen$ive finger pointing....
I used my middle one a few times too
It's BITCOIN x Trillions....trust us....suckers
Debit cards were the real game changer imo....