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So it’s banks stealing from both sides.
Yes, but it’s also a coordintion thing.
Banks, businesses, and payment processors have to coordinate billions of payments a day and it’s easier to do occasional reconciliation followed by an adjuted transfer for the net difference instead of a ton of individual transfers, most of which cancel each other out.
Sure but it’s their choice to do reconciliation once daily instead of hourly
It’s how they always come out on top.
https://www.youtube.com/watch?v=cob6wDLW-PE&t=250s