[jeffshek]

Venmo isn't instant. Send yourself more than 15k. If that goes through, try to send it back.

Sure, the row in the database is instant though.

I agree it is a feature for a bank to be able to undo mistakes. The problem happens when a bank commits the mistakes and refuses to acknowledge it.

This is akin to all of us submitting to google and gmail, its great unless our account gets flagged by an algorithm by mistake. No mistake, i would be screwed.

[arcticbull]

It's exactly as instant as Strike.

Further, both will be totally instant vis-a-vis your actual bank account in a few years as RTP rolls out. No crypto needed. [1] I'm led to believe the delays in implementation were ensuring small community banks had a risk model.

> This is akin to all of us submitting to google and gmail, its great unless our account gets flagged by an algorithm by mistake. No mistake, i would be screwed.

Have you met typos?

[1] https://www.theclearinghouse.org/payment-systems/rtp