From: wiltship@iccu6.ipswich.gil.com.au (PeterWiltshire)
Date: Sat, 18 Nov 1995 10:11:54 +0800
To: cypherpunks@toad.com
Subject: Re: credit card conventional wisdom
Message-ID: <199511180157.MAA13155@iccu6.ipswich.gil.com.au>
MIME-Version: 1.0
Content-Type: text/plain


You wrote...
>While not as familiar with the US system as the Canadian, I can give as a
>simple example, the bank clearing system for paper checks.  In Canada, we
>can clear a check from one side of the country to the other overnight.  We
>have 24 hour clearing.  While this is far from "perfect", our existing
>paper systems allow for a degree of efficiency which I don't believe is
>engineered into the US clearing system. 

Here in Australia most banks take 5 working days to clear a cheque.. even if
it's deposited at a bank just up the road from drawer's bank.

cheers

Peter







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