a couple minutes after opening (fedwire closes 1900 opens 2100 eastern) hsbc instantly sent a fedwire out the door giving me the corresponding end to end reference number but schwab waited until the next calendar day morning to credit my account smh (still “same” business day)
technically a fedwire doesn’t need to be instantly credited to the named account holder until COB but it is instantly and irrevocably settled between financial institutions via master accounts held within the federal reserve system
in the sense that underneath chips is the usual fedwire system settling imbalances at COB
though both are governed under article 4a of the uniform commercial code so for most cases a “wire” transfer can refer to either/or
>what if every bank in the world came together and made their own mastercard
how innovative!
that's exactly how mastercard was structured and governed before going public
so too the rising bubble of discontent of the global payment rails duopoly, forgetting why consolidation was an improvement in the first place
then a plethora of new payment rails for "choice"
before inevitably "why is it all a confusing mess"
what is old is new
vista genuinely did dedicate an inordinate share (relative to xp) of resources to aero eye candy so it's even funnier now the nostalgia machine pines for such 3d glassy anachronisms:
old is new/new is old
cloud is out/self-hosted is in
etc etc etc
microsoft’s project longhorn pr blitz wasn’t entirely contrived when focus groups really did prefer vista but crucially, vista on what was then modern hardware
windows 11 requiring tpm support set off another wave of screaming before microsoft pulling off the progamer move of making basic components even less performant/functional
the reason vista sucked was everyone bitching and whining over an operating system needing modern specs and as well established wintel consumers will SCREAM if an old best buy special doesn’t last until time immemorial