Search results

Medine, are you or the uni able to elaborate? I used to work for a bank in a senior retail position and have since provided consultancy to several of them over many years. If there is a way that they directly earn income in the way you suggest it certainly isn't obvious or admitted. I can't...

To pass on the entire cost to the drawer would involve some sort of universal protocol between banks and a balancing or clearing system. The reason they don't do that now is that the payee's bank has no idea if the drawer will be good for their fee (which is always a worry given they have...

No, it's "bollocks". But I'm interested to hear the rest of your reasoning, or is that it?? Waysolid, thanks for clearing it up direct with the bank. Re the fees on both drawer and payee, they are firstly for cost recovery (its a manual process and takes a while to write up and send back to...

Refer to earlier post above. They are NOT 'using our money in the meantime'. This hoary old chestnut just keeps on keeping on.

Hulkster is right. The three days is to allow the banks time to dishonour a cheque. They say three days because they physically need to have hold of the cheque to be able to dishonour it. Say a cheque written by someone in Melbourne is banked by the payee in Perth. It is going to take a...

Thommo, are you suggesting that IFHL is being funded by investors/institutions abandoning a weakening USD?

Wazza, That type of independent analysis costs plenty of time and money. Their operation so far has been run pretty tightly with a small number of people on the ground and relying on email database technology to handle enquiries and applications. It seems they have been trying to slip...

Rolf, Don't think I mean anything underhanded by using the term "vested interest". You have a vested interest in being a member of the MIAA because it is important to your business. Its the same source of motivation for the lenders. I just raise an eyebrow at an industry body that is...

Hi Rolf, You sure about that? Its funny how the recent MIAA newsletter features the prominent logos of major lenders (CBA, Citibank, Interstar, HLP) which all comes at a cost, while all the conferences they hold are sponsored heavily by the lenders. There was also a press report about a...

Rolf, I hate to point out the obvious but Derivex/IFHL is probably not going to be welcomed with open arms by the MIAA. The MIAA is largely funded by lenders who make money from loans that can't compete with what Derivex is offering so it gives rise to a fairly substantial conflict of...

Monoply & AdamN, Yes, that could be the plan. Derivex might be simply seeking to prove that they can do it and then sell out to the highest bidder who would then acquire the IP and shut it down. The trouble may be that it probably won't take long for more clever Trevors to come along and...

This article extract is from today's Mortgage Industry Association electronic newsletter. It is not necessarily negative, the MIAA is just covering its backside at this stage. "Regulator Investigation 'Interest-free mortgages' MIAA understands that regulators are looking into what seems...

It's good that the AFR is now onto the Derivex story which should quickly broaden the scrutiny being applied to involve industry analysts who can get to the bottom of the question of authenticity and consumer risk. Assuming everything is legitimate though, I suggest everyone with equity in...