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I had a debate last night on how fast Ripple is. If I am moving money from bank account a to bank account b, how long would it take? I was told by one person that adding a block takes 8 secs. Another person said money can be moved cross border from any bank account to any bank account in 6 secs.

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    Does 2 seconds make a difference in your life? – Mikko Ohtamaa Aug 3 '16 at 6:06
  • I think it will vary based on how many intermediaries it passed to reach destination. – Leandro Feb 24 '17 at 2:29
  • Would it? It seems like the major bottleneck is submitting a transaction to the Ripple network and having all of the gateways include it in a block. – Nick ODell Feb 24 '17 at 4:36
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It will depend on exactly what combination of technologies are being used. If it's ILP and the banks (or market makers) already have payment channels setup, it can be virtually instantaneous. If it's a direct on-ledger payment, it would be about 7 seconds on average. If it's an ILP outer payment that requires both an on-ledger lock up and on-ledger settlement, it can be closer to 15 seconds.

It also depends what you mean by "Ripple". For example, if you mean any bank-to-bank payment using Ripple Connect (the product Ripple sells to banks), that could include payments that uses all kinds of combinations of technologies. For example, if it's an ILP outer payment and the settlement is on the bitcoin block chain, then it can take as long as an hour, because that's how long for payments to be reasonably certain on the bitcoin blockchain.

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