• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Where is my money?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Where is my money?

    A transfer of cash using my IBAN number from Germany to a UK bank I notice neither bank now has the money. I suspect something to do with the weekend and all.

    But during such transfer where exactly is the money now?
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    Earning money for one of the banks. They will spend it on swans wings and champers.

    HTH

    Comment


      #3
      Originally posted by scooterscot View Post
      A transfer of cash using my IBAN number from Germany to a UK bank I notice neither bank now has the money. I suspect something to do with the weekend and all.

      But during such transfer where exactly is the money now?
      I have noticed the same. I have also done "instant payments" to HSBC. HSBC has hung on to them for 24 hours. Moreover, a DD was taken from my account 12 hours before being requested. In other words HSBC backdated the instruction.

      The answer is the banks don't actually have money. An inter HSBC transaction does not involve the bank having to find money. External transactions mean that the bank needs to know how much to borrow from other banks.

      Where's the bank's money? It is invested in Hedge Funds. Don't take my word for this, read some books about it. "Bank Ponzi schemes" and how drug money kept HSBC afloat
      "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

      Comment


        #4
        I'm alright Jack

        Comment


          #5
          So my cash is an electronic bit somewhere in the interweb.

          Would this happen with bitcoin? And assuming not. Could I buy bitcoins with euros here one minute in Germany and sell them the next in the UK for pounds incurring the minimal loss or gain in exchange rates?
          "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

          Comment


            #6
            When an international transfer went missing for me a eight years ago, the bank eventually found that they forgotten to fax the paperwork through to the receiving bank.
            Down with racism. Long live miscegenation!

            Comment


              #7
              Originally posted by scooterscot View Post
              So my cash is an electronic bit somewhere in the interweb.

              Would this happen with bitcoin? And assuming not. Could I buy bitcoins with euros here one minute in Germany and sell them the next in the UK for pounds incurring the minimal loss or gain in exchange rates?
              You do catch on quick
              Knock first as I might be balancing my chakras.

              Comment

              Working...
              X