Novatti - The $1 party, page-4167

are WBC?

banks are a business. risk vs reward. without knowng much about their ANZ relationhip, its hard to say. But having been in soes of the bank in similar cases, a likely scenario is:

ANZ: is the house bank to the novatti group of companies.it failitates international transfers, holds daily transactional accounts, etc. ANZ may make decent coin from that relationship. ie, the risk is worth the reward.

WBC: new relationship wanted by Novatti. no debt. no leases. maybr no fx. no trabsfers. just some cash in a back account. my be the bank said 'what future bilusiness will we get from Novatti? no debt requirements, intrenched with ANZ. should we spend the time to learn about Novatti's AML, KYC, compliancs etc. time is money. FI money has doferent basil III capital ratings and thus large majority of cash held has to remain liquid (they cant go lend it out) so Novatti's cash deposis are worth less than you rs or mine as a consumer. my guess is WBC said to themselves 'reward aint worth the effort or risk. come back to us later when you need more of our services and we can make sone money off you and then may be we'll take the risk then'