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#1
02-05-2004, 08:58 AM
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 Re: On-line bill payment Leigh Menconi opined thusly on Feb 4: - quote - > "Scott Marquardt" <wasREMOVEket5[at]hotmail.com> wrote in message
That's what I'm figuring. Can't fault 'em for that -- but disclosure would> news:jfpf1w2d5x8a.dlg[at]marquardts.org... > > So where's the money? http://snipurl.com/4a7w (See sections "What does > > ´Deliver Byˇ date mean?" and "What does ´Send Onˇ date mean?") > > > What I'm wanting to know is where the money is for the two days between > the > > time an account holder's account is debited, and the time the payee's > > account is credited. > > > Are banks basically doing some kind of time-arbitrage, parking all this in > > an escrow for their own purposes? > > > What's the status of the money in this limbo? Whose is it? What laws > > regulate its use? > > > Anyone know? > > > -- > > > Scott > > I've wondered the same thing but I'm getting free online banking. Maybe the > float is how they make money offering it for "free". be nice. -- Scott Almost summer! http://snipurl.com/trebuchet |
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02-05-2004, 01:10 AM
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| Re: On-line bill payment "Scott Marquardt" <wasREMOVEket5[at]hotmail.com> wrote in message news:jfpf1w2d5x8a.dlg[at]marquardts.org... - quote - > So where's the money? http://snipurl.com/4a7w (See sections "What does
I've wondered the same thing but I'm getting free online banking. Maybe the> ´Deliver Byˇ date mean?" and "What does ´Send Onˇ date mean?") > What I'm wanting to know is where the money is for the two days between the > time an account holder's account is debited, and the time the payee's > account is credited. > Are banks basically doing some kind of time-arbitrage, parking all this in > an escrow for their own purposes? > What's the status of the money in this limbo? Whose is it? What laws > regulate its use? > Anyone know? > -- > Scott float is how they make money offering it for "free". Leigh in raLeigh |
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#-1
02-04-2004, 07:56 PM
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| On-line bill payment So where's the money? http://snipurl.com/4a7w (See sections "What does ´Deliver Byˇ date mean?" and "What does ´Send Onˇ date mean?") What I'm wanting to know is where the money is for the two days between the time an account holder's account is debited, and the time the payee's account is credited. Are banks basically doing some kind of time-arbitrage, parking all this in an escrow for their own purposes? What's the status of the money in this limbo? Whose is it? What laws regulate its use? Anyone know? -- Scott Almost summer! http://snipurl.com/trebuchet |
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| bill, online, payment |
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