Re: [tlug] Accounting Systems and Speed of Reconciliation

[Ai Ling <alchow@example.com>]

On Mon, Aug 3, 2009 at 11:10 PM, Alexei Anisimov <alexei.anisimov@example.com> 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.  

Personally, I suspect the inability to place orders for anything more complicated than what's available is simply the bank cutting down on user error as much as possible.  I've never been more horrified at the degree to which there is a complete lack of financial education in the general populace.

-- 
Ai Ling Chow | alchow@example.com