Great.Yes. The ACH system operates only to transfer funds between two different banks. If I had a checking account at Bank of America and chose to transfer funds to the checking account held by Kinesis, this internal transfer would probably happen in the space of two hours or less. The speed varies depending on the bank. This would be a routine internal transfer between two BoA customers and it would not involve ACH in any way. Also, there is usually a memo function in this type of in-bank transfer where I could place my KM number.
Sounds simple.
Anyone have a BofA account that can test this?
A small transfer should be sufficient.
Should provide a quick yes/no result on this method.
Individual accounts are the aim:At the same time I hope Kinesis is busy cooking up a better system at a U.S. bank where Kinesis members have their own segregated account and account number.
The Kinesis management team has been working with partners on a US-based physical debit card program and user bank accounts. Although this program is not scheduled to come online in Q1, we wanted to make our community aware that it is coming in 2024.
