It's been rumoured that John Hasler said:
> bank C which then transfers it to bank B. It is bank C that holds the
> money overnight and pockets the interest. A and B know about this, but
Yeah, something about running "strip files" at night. Every time I heard that
explanation, I got the impression that you could go in, massively overdraw your
account, and no one would know until midnight when they run the strip files.
I always thought that it was weird that they do batch processing in the era of
online, real-time, blah blah ... but I suppose banking and conservative practice go
hadn in hand ...
--linas
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