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Fed’s new instant payment system could be trouble for PayPal, Venmo
(arstechnica.com)
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this post was submitted on 24 Jul 2023
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We’re talking about wire transfers, not closing on a mortgage. They take 3-5 days. I pay my loan to Rocket every month
No, the entire thread is about wire transfers lol. There’s nowhere on Earth where you can close on your mortgage instantly
That's for a mortgage not an inter-bank account to account transfer.
There is a metric shit ton that goes into a mortgage from checking financial history to an actual inspection of the house. That process takes time just from the sheer amount of parties involved.