From: Mike Topalovich <TOPALOVICH@terraglyph.com>
Date: Thu, 26 Dec 1996 10:04:14 -0800 (PST)
To: "'cypherpunks@toad.com>
Subject: RE: Legality of requiring credit cards?
Message-ID: <c=US%a=_%l=TGIEXCH-961226180632Z-2524@TGIEXCH.terraglyph.com>
MIME-Version: 1.0
Content-Type: text/plain



>
>This isn't to start any arguments, it's just an FYI...I noticed that when I
>worked for a bank, many banks would only allow other banks to call to verify
>funds.  What this meant was, I'd have customers calling me who in turn had
>customers who were growing *very* impatient because they had written a
>personal check, who had to wait for the clerk to call to verify funds, spend
>10 minutes on hold for bookkeeping only to find that the bank they were
>calling only allows other banks to verify funds, who then had to wait for the
>clerk to call the company's bank to call the other bank to sit on hold
>another 10 minutes for bookkeeping only to have the bookkeeper try to weasel
>his/her way out of doing any work by disputing the fact that you worked for a
>bank, blah, blah, blah.
>
>What's the point?  Maybe some of us don't want to have to go into debt just
>to buy groceries, and don't want to carry buttloads of cash on us all of the
>time.  With banks charging ridiculous fees to keep *your* money in a checking
>account, where's the big incentive?
>
>I say we go back to a barter system
>
>Mike
>
>
>----------
>From: 	gimonca@skypoint.com[SMTP:gimonca@skypoint.com]
>Sent: 	Wednesday, December 25, 1996 12:57 AM
>To: 	cypherpunks@toad.com
>Subject: 	Re: Legality of requiring credit cards? (fwd)
>
>People on the list could probably come up with much better ways to
>authenticate a reputation. Until then, for personal checks, you can
>call any bank in the U.S., ask for bookkeeping, and ask them if there
>are funds in the bank to cover the check you're holding. Any bank
>should give you a yes or no on this. Some banks, like the First Banks
>here in Minnesota, will do this through their automated telephone
>banking services, 24 hours.
>
>
>