World-class real-time clearing
On 21 November 2014, Danish bank customers were given the opportunity for the ﬁrst time to transfer money between bank accounts in real time. In practice, this means inter-account payments can now happen immediately, which is a signiﬁcant improvement compared to before, when transfers were measured not in seconds but in whole or half banking days.
Real-time clearing is not restricted to the banks’ hours of business, but is available 24/7/365. Danish bank customers will beneﬁt from this in a number of ways, going forward. For example, in car sales, which often take place at weekends, the buyer and seller will now be able to conclude a transaction by mobile phone instead of waiting until the next working day. At least, if the car costs less than DKK 500,000, the current ceiling for a payment.