The world of instant $ transfers?
Needed to purchase a steam bit from a mate of
GAZOU....a well known manufacturer [ANTON = Fabrice Betrange], but he would only accept telegraphic transfer of FF to his trading account
Day 1 = Friday - I withdraw AUD $225.00 from my financial institution in Wollongong....they spool this payment for transfer at 0001 hours Saturday morning it is in the Australian International division of AMEX in Sydney
Day 4 = Monday - [AMEX International Sydney does not work on weekends
] receives the transfer from Friday and spools it up to send to the French division of AMEX international at 0001 hours on Tuesday morning
Day 6 = Tuesday - French division of AMEX international receives the transfer from Tuesday and spools it up to send to the French division The French Banks head office in Paris at 0001 hours on Wednesday morning
Day 7 = Wednesday - the French Bank branch where ANTON has his account receives the transfer and spools it up to send to the account of ANTON at 0001 hours on Thursday morning
Day 8, = Thursday - Fabrice e-mails to confirm FF received that day, but cannot be posted next day as it was the National Bakers Picnic day on Friday
......so will be posted on Monday
Yes eleven days after the funds has left my account
NB - this had nothing to do with ANTON, just the worlds financial institutions
getting interest on funds in 24 hour blocks.... Derek