4 ms·
Liquidity to support your 10k transaction seems unlikely. More likely fraud and CYA by the banks
by winphone1974 4y ago
Liquidity to support your 10k transaction seems unlikely. More likely fraud and CYA by the banks
- fwungy 4y agoThe bank workers told me they don't keep a lot of cash on hand to minimize robberies. The thing I wonder about is why did online banking start requiring scheduled payments for anything over a $100 or so about five years ago? Now they often make me wait a few days to clear a payment, unless it's internal to the bank itself (e.g. my checking account to pay off my same bank cc account). I'm sure they're investing my money short term and the holds give them more time and flexibility to do so. However, tying up account money in short term invesments means their liquidity will be reduced. If you were PayPal would you not invest user funds overnight (or longer) based on projections of inflow/outflow? If not you'd be cheating your shareholders. However the temptation to hold on to user funds as long as possible would be constantly present. That's almost certainly what's happening.