February 4, 2013

• some bank bashing

  In today’s advanced digital age… I still can’t fathom why it takes our big banks up to 2 business days to release funds when we’re doing a transfer to a different bank electronically.

  It’s not like someone sits at the back of the pc, prints out our request and then has to physically walk across to the competitor’s bank and transfer the funds. One would assume that it would be all electronic. I would have assumed the banks would have streamlined these processes down to a tee where if possible a machine runs it instead of humans (because lets face it, machines are cheaper to run than people- you dont have to pay workcover for machines) yet they sit on our money for 2 whole days before anything happens.

   

  I’m not stupid, I know the banks make money off hence the delay in transfers. Not sure what the “term” is and how it is that they do it… but hey… banks.. they gotta make some money somehow…

   

  eventually, at some point, someone would clue on and legislate it and ban the banks in acting in a deceitful manner, because HEY… we all pay “FEES” for them to do something for us.. and if anyone should be earning the interest on our funds, it should be us.. not the banks.

   

   

  • 6:01 pm
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