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The International Banking System is Only Benefiting the People at the Top
Manage episode 440466495 series 3596006
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The international banking system is, at the highest level, very fast and quite efficient. The system for 'regular' people is only there, by design, for the people at the higher level too make money.
In the US, people who use checks must endure something called "float." Float is when the banks make LOTS of money. They could transfer the money right away, but then there would be no way to make money for them. With float, there are several days for the banks to use your money to make money for them. I know, I used to work for banks.
In any case, there isn't much you, as a regular citizen, can do.
You just need to live with this unfair state of affairs.
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