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In the UK if a financial institution didn't support FPS it would fallback to the existing system with 3-5 days clearance.

Eventually they all got on-board and now money is sent in seconds between accounts.

It didn't replace credit cards or direct debit but it's the reason why nothing like Zelle exists in the UK.

There's also some added benefits like being able to withdraw money from Paypal pretty much instantly.



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