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Author: PipneyJane Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 44775  
Subject: Re: An Open Letter Date: 10/11/2012 7:54 AM
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Pam, I may not be recalling correctly, and if so, I'm sure someone here will correct me ;0), but I don't think we were able to do branch banking in the States either back in 1990. At least, we didn't have it available in Texas back then. I worked for a bank in 1985, and was told that although there were multiple banks with the same same all over Texas, the accounts were not connected to allow branch banking. So you couldn't for instance, just transfer funds from your account with COmmerce Bank in Houston to the Commerce Bank location in C.S., you had to write a check, deposit it, and then have it physically sent to a clearinghouse to get the funds approved. Floating funds was a big problem back then.

It took me ages to realise that Australia was actually leading the way on this. We'd always grown up feeling like we were at the far end of civilisation, not at the cutting edge of innovation.

- Pam
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