Q: I have an online savings account linked to a checking account at a traditional big bank. I like the high interest rate from the online savings account, but I always have to remember it takes several days for transfers between the two banks to take effect. With today’s fancy technology, why does an electronic funds transfer between institutions still take several days?
A: It’s a good question, and ideally those transfers would be more seamless. However, it’s important to remember that at the front and back end of any electronic transfer, there is usually some amount of human involvement. This can slow the process down, but it can also make transfer procedures more secure. You o






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