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lxsw20:Under SBI (Settlement Before Interchange) , bank transfers are irrevocable - can't make the payment without funds and can't be clawed back unless it can be proven that the payment was made in error...lots of hoops to jump through.
A bank cheque is guaranteed by the bank so no fear of funds not being there.
Basically a bank transfer will happen between major banks within an hour (unless there's an infrastructure issue) and it's there...it's not on hold, it's not a maybe and it can't bounce.
