Streamlined

April 2, 2024- Something to consider: It now takes eight hours, or less, for one bank to transfer funds to another. This has long been a goal, one purpose of which is to minimize the amount of bet hedging by less than responsible customers, who write checks or transfer funds, thinking that “There might be a business day that will pass without sufficient coverage, but surely no bank will be so efficient as to catch on so fast.”

Guess what-Most banks do catch on-and within the aforementioned eight hours. I am glad to have set up a system to meet obligations as they arise, and not expect the institutions to dawdle, and hold off their end of the deal. It’s just nice to actually be able to face lightning-fast challenges, with like response.

Despite the misconception that progressive governments are lenient and inefficient, especially in the face of rapid change, I have noticed that everything from tax returns to the actual arrest and deportation of miscreants who are here under false pretenses is actually being handled in a more streamlined manner. Some of it is moving more slowly than other aspects, but things are moving along. A lot of the COVID-based, supply chain shortage-caused mishandling of people and goods is clearing up.

Then, there are the squatters-who move into another person’s home and cry to sympathetic judges for relief, when they are removed. Recently, a Venezuelan national tried to recruit people from his country to engage in mass squatting, saying that he knew judges who would back him up. He has been arrested in Ohio, on Federal charges, and sits in Geauga County Jail-pending trial in a Federal court, where he does NOT know the judges. Many states are now streamlining their laws, so that police can protect homeowners, even if they are away from the home for as long as six months.

Just because people are kind, nice, considerate does not mean they are disorganized and weak. It’s worth remembering this, in the weeks and months ahead.

4 thoughts on “Streamlined

  1. Payment processing lock boxes are fascinating places. As envelopes are opened by machines, the checks and the advisory portions of the statements are stacked and the two stacks are placed in machines which read, endorse, and apply them to the accounts they belong to, both those of the sender and the recipient. If the machines have questions, they spit out the checks and there are people who are very fast in reading the correct information and they are manually applied. In most cases, this process takes just minutes — in a busy lockbox, the goal is to complete this process for the day’s mail within that same day — everything is totaled up, and the transfers are recorded that day — the actual transfer of funds from one bank to another occurs overnight. Electronic payments occur as quickly as they are received — there is no “float,” and therefore no “kiting” of electronic payments.. 

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