The Anonymous Widower

Institutional Bank Transfers Have Really Got Better

Today is a Monday and I was surprised to see my monthly pension payment had arrived in my bank account overnight.

A few months ago, the transfer would be in a pending pot, but I wouldn’t have been able to use it for probably three days.

I could blow it all today, on a wheel nut for a Lamborghini.

The only users in this process are the banks.

I always remember my friend, David, who rose to the top of a major clearing bank, telling me that they got a third of their profits from overnight money.

So they won’t be getting the interest payment, when they lend out my pension money for two days. Unless of course, they lent it out for Friday and Saturday nights!

March 24, 2014 - Posted by AnonW | Finance | Banks, Nationwide BS