[43585] in Cypherpunks
Re: credit card conventional wisdom
daemon@ATHENA.MIT.EDU (PeterWiltshire)
Fri Nov 17 21:03:04 1995
Date: Sat, 18 Nov 1995 11:56:14 +1000
To: cypherpunks@toad.com
From: wiltship@iccu6.ipswich.gil.com.au (PeterWiltshire)
You wrote...
>While not as familiar with the US system as the Canadian, I can give as a
>simple example, the bank clearing system for paper checks. In Canada, we
>can clear a check from one side of the country to the other overnight. We
>have 24 hour clearing. While this is far from "perfect", our existing
>paper systems allow for a degree of efficiency which I don't believe is
>engineered into the US clearing system.
Here in Australia most banks take 5 working days to clear a cheque.. even if
it's deposited at a bank just up the road from drawer's bank.
cheers
Peter
Flight to Quality
Wiltshire Productions Pty Ltd
Brisbane, Queensland, Australia
Intl Voice 61 7 3376 3535 Intl Fax 61 7 3279 4027
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