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Re: credit card conventional wisdom
>While not as familiar with the US system as the Canadian, I can give as a
>simple example, the bank clearing system for paper checks. In Canada, we
>can clear a check from one side of the country to the other overnight. We
>have 24 hour clearing. While this is far from "perfect", our existing
>paper systems allow for a degree of efficiency which I don't believe is
>engineered into the US clearing system.
Here in Australia most banks take 5 working days to clear a cheque.. even if
it's deposited at a bank just up the road from drawer's bank.
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