this post was submitted on 28 May 2024
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I'm in Aus and our transfers are usually instant. However if you're transferring a couple hundred bucks or more, and you haven't made a transfer before to a person, it will hold it for a day. I think to give the customer time to call and say the transfer was fraudulent.
I pay monthly rent in Australia with that, couple thousands and no big deal
I don't think it generally does them for person to business transfers, just person to person. But yeah it's how most people pay their rent, whereas cheques still seem to be common in the States for rent.
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