> How are you doing it for free

How do you mean? Some banks and bank accounts don't charge.

> how long does it take

It depends. Some transfer types are bank opening hours only, though then it's seconds. Some are batch overnight ones. For some use cases you can do an "internal" transfer internationally instantly, with an international bank. And then on both sides it's domestic instant. With others you don't need that trick, and it's just instant by default.

While this has greatly improved (part of what I meant by stablecoin supposedly being more relevant in the last few years being nonsense), yes the overnight thing is something that's not perfected yet.

Compare this to stock sales. We're down to T+1 settlement now, depending on the market. Imagine someone saying we need to replace the whole idea of money in order to reduce from T+5. We don't.

> without chargebacks

Cryptocurrency advocates talk about chargebacks as if it's a law of nature they managed to find a loophole in.

What exact use case are you thinking of? Customer payments to a business? If you want to reduce (though not eliminate) chargebacks and risk, those businesses are already declining CC, and only accept debit card and bank transfers as payment?

There's a reason most companies don't want to do that, because there's a good reason customers choose to just go elsewhere if they do.

Chargebacks were not an accident, just like "being stuck in KYC" was a deliberate design choice.

"If we do this then we can't get stuck in KYC" is not clever, it's just indistinguishible from crime, and quite possibly is crime. (structuring)

I should add, before anyone tries to "correct" me: Yes, non-CC transactions can also be reversed, of sorts. But again this is not a technical limitation. If you want to avoid counterparty risk due to a deliberate technical and contractual implementation, then contractual solutions exist for that.

It's not a glitch. It's by design.