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I'd really like to know the logistics of such transfers. Does Republic provide the banks with bank account numbers (which begs the question, do banks have their
by GalenErso 4y ago
I'd really like to know the logistics of such transfers. Does Republic provide the banks with bank account numbers (which begs the question, do banks have their own accounts with themselves to keep money into? They must, or else, where do they keep their money, not from an accounting standpoint but from a computer one?)? Do the other banks then wire $5,000,000,000.00 or whatever the amount from their accounts to Republic's account? Do they transfer the money all at once or in quick increments? Who clicks on the final "send" button and are there other people behind him/her (physically) to check?