Re: [tlug] Accounting Systems and Speed of Reconciliation

[Edward Middleton <emiddleton@example.com>]

Ai Ling wrote:
> Alexei Anisimov wrote:
> 
>         Banks that stay open until 7-8 pm are not open for transactions,
>         as far as I'm aware.  The employees who talk to you about your
>         investments and open accounts are not the same as the ones who
>         post the transactions.  The sales employees don't have to do
>         that odious EOD accounting like the ops employees do.  Notice
>         that if you go into a bank expecting to actually transact (this
>         wire transfer _must_ be done today!) you may find yourself
>         politely refused.
> 
>     I understand and agree, but - it's still better to have an ability to at
>     least place the transaction order today when it's convenient for you
>     (say after work), even if it will actually be processed tomorrow.
> 
> Ah.  Well, that's up to the bank's customer service.  ^_^  If you're
> with Shinsei, you can certainly do that over the Internet in English. 
> SMBC allows you to do that (if you can read Japanese), too. 

I think the bottom line is that better service costs money and regular
banking services don't make money for the bank.  The internet banks can
get away with lower costs because their running costs are lower.

If you want personalized banking service you can get it in Japan but it
usually requires you to be dealing with larger amounts of money or
higher fees, or both ;)

Edward