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PennyStalker

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PennyStalker

Re: kentuckybull post# 222489

Sunday, 08/23/2015 7:46:44 PM

Sunday, August 23, 2015 7:46:44 PM

Post# of 298910
Does eMobile not use ACH to transfer money out of your wallet and into your bank account?

It does!

Check 21 is only used for wallet to wallet transactions.

This means that if a merchant wants a customer to pay him using eMobile, and that the customer is not already registered to eMobile, it would take a full week for the merchant to get his money.

1 day for registration and bank verification
3 days for ACH transfer of funds to wallet
1 day for wallet to wallet transfer
3 days for ACH transfer of funds to bank account

Oops! Don't forget the weekend!
10 days for a transaction to clear!

That's what Ed calls revolutionary.
Wow!
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