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It blows our hivemind that the United States doesn't use the ISO 216 paper size standard (A4, A5 and the gang).
Like, we consider ourselves worldly people and are aware of America's little idiosyncrasies like mass incarceration, the widespread availability of assault weapons and not being able to transfer money via your banking app, but come on - look how absolutely great it is to be European:
The American mind cannot comprehend this diagram
[Diagram of paper sizes as listed below]
ISO 216 A series papers formats
AO
A1
A3
A5
A7
A6
Et.
A4
Instead, Americans prostrate themselves to bizarrely-named paper types of seemingly random size: Letter, Legal, Tabloid (Ledger) and all other types of sordid nonsense. We're not even going to include a picture because this is a family-friendly finance blog.
I assume it's ACH, I'm at work and my job includes doing ACH work so that just kinda typed out.
It has me put their routing and account number in, then took anywhere from 5 minutes to a day to clear, p sure that's ACH
Wow awesome!
A day isnβt cool, but five minutes is pretty much acceptable.
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.
I respect that!