Anyone who has had to

artappraiser — Tue, 07 Jan 2014 21:49:16 +0000

Anyone who has had to exchange payments internationally or has had to deal with clearance of large checks will agree that this is a good topic to rant about. It will also be clear to such persons that the excuse examples given by banks in Salmon's article are so much b.s., that what they really want is to continue to be able to play with other people's money for a couple days....

Edit to add: before the screaming starts about this being an exclusively rich people's problem, I would like to point out where there are many situations where a large payment by Peter to John is mostly going to end up paying Paul. But Paul and his employees have to wait until the bank is done playing with the money. Because there's no way that John would ever have enough in his account to cover that kind of payment while the bank plays with it.

dagblog - Comments for "The payments impasse"

Anyone who has had to