this post was submitted on 16 Apr 2024
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Aotearoa / New Zealand

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[–] eagleeyedtiger 6 points 7 months ago* (last edited 7 months ago) (1 children)

All I want is an Instant Payment system for instant bank transfers. Multiple countries have managed to do it already.

Or just copy Australia's homework

[–] Dave 5 points 7 months ago (1 children)

Ours is down to a couple of hours for inter-bank transfers, 365 days a year. We've made a lot of progress in the last decade.

[–] eagleeyedtiger 3 points 7 months ago (1 children)

A decade is a long time.. we only got 365 days a year banking less than a year ago didn't we? I guess our market is so small nobody really cares to improve things and kiwis don't like to make a fuss to get things more modernised.

[–] Dave 4 points 7 months ago (1 children)

Correct, small steps but it's improving! Perhaps the digital dollar is the next step.

[–] eagleeyedtiger 2 points 7 months ago (1 children)

So a digital dollar in 2033, instant transfers by 2043 :P

If we get a digital dollar before instant transfers, I'm going to be annoyed!

[–] Dave 2 points 7 months ago

Haha we probably will! But the digital dollar will be instant, if that's any small consolation.