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clock Created with Sketch. 16/11/19
16:53
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Originally posted by itzgr82balive
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I confess, I am ignorant in this area. I tried to google how banks such as CBA, NAB, etc "hold their money" and couldn't find an answer. I was trying to think of how ISX is different than a traditional bank when what goes through ISX when taking deposits/payments electronically rather than over the counter.
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Used to be DR and CR correspondent bank and to balance it they write a check. This you do it at clearing house. Long time ago not sure if its done like this anymore. I did do that once in my youth. Just chuck bundles of checks across the room to the Other banks clerk just making sure which bank.
Last edited by
hopper :
16/11/19
