[s-cars] Fw: US vs. German cash remittance process

[ccohen5]

| I have resisted staying out of this discussion, but now I must succumb as
I
| am in this business and your comments are totally on point.
|
| There are huge vested interests in the US that makes it difficult for
banks
| to modernize.  Firstly we have 3 incompatible bank systems which by law
| cannot merge; secondly we have tough privacy laws and a public that is
| paranoid about allowing others to have private numbers because the state
is
| not allowed to enforce a national ID system; and lastly creditor kiting is
| an art form that at one time was a social if not criminal offense in
| Germany.
|
| So we stick to outmoded and obsolete systems which BTW also make it easier
| for money launderers, druggies and terrorists to use our system
anonomysly.
|
| My company is the only, and I really mean the only one in the world that
| facilitates a seamless interaction that would permit an electronic
interface
| between consumers, business and government with their various suppliers
| through any bank(s) anywhere.  This is not really saleable in the US for
the
| reasons above (consumers) and most business treasurers are quite
complacent
| about this aspect of their business and happy to leave pools of liquidity
| all over the country to the amusement (and profit) of their banks.
|
| I wont say more but if anyone is interested take a look at www.alterna.com
.
| I am  not on the "sales" side of the business but just repeating what the
| 'experts' and our customers ( who have seen the light with big savings)
have
| told me.
|
| Its deplorable.  Someone has commented on the forum about the Citi C2it
| (Alexander I think) which is a step in the right direction.  But look at
the
| cost - $15.00 for a transfer that has zero marginal cost for Citi.  In the
| EU, the EU commissioners have had to rule against the banks for over
| charging for foreign Euro transfers that were costing small businesses
$100
| for something that we can do for about 50c marginal cost assuming an
| installed system.
|
| Seems like an opportunity, but you would be amazed at how indifferent
| financial managers are because of their vested interests, pressure from
| banks and the lack of performance goals inherent in the business units run
| by treasurers and CFOs.  they argue about a couple of basis points for
weeks
| and then leave a ton of money lying around.
|
| Just like fighting the Audi supply system for a good part price and then
| having to fit the piece twice because you break it and have to take the
car
| to the dealer to correct the break and buy the part again, which for me is
a
| definite BTDT and provides the requisite Audi reference.
|
| Just my 2c as opposed to the US $2 which most have to pay !!!
|
| Colin
|
| Its actually funny... you can also just log into your PC here in the US
and
| do
| your banking online.... BUT my bank still prints the check and sends it to
| the
| recipients... pretty uhmm... well... retarded... yeah..
|
| Thomas
| 96 Probe GT - not so stock anymore
|
| Quoting Stephen Bigelow <sbigelow at sprint.ca>:
|
|