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Message Subject BREAKING- Nationwide Cash Failure? US Direct Express
Poster Handle girlie45
Post Content
Early last week, Canada's largest bank (Royal Bank of Canada [RBC]) suffered a day-long 'freeze' on deposits made through INTERAC, which is an online money transfer system done through emails. People could send money, but the recipient couldn't process the payment. The problem started early in the morning and lasted all day until around 8 p.m. The reason for the 'freeze' was explained away as 'an issue' on the RBC website. No other explanation was offered.

During that more than 13-hour period, billions of dollars would have been 'frozen' (held) in the bank's coffers. Someone who understands the banking system may have an explanation as to why this 'held' money would benefit the bank. In any case, this appears to be a growing trend -- withholding people's money without notice and without a reasonable explanation.
 Quoting: Anonymous Coward 5270536


Held money creates interest.
 
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