God I hate #FICO scores and their silly formulations. Paid off my car and house only to be penalized for doing so. Their excuse is that any 'closed account' diminishes one's ability to prove you can pay a debt regularly.
The enslavement of debt is their gospel and, I gotta say, is something we're now schooled to buy into.
The #indebtedness cycle is disgusting and I'm so done with it all!
Someone in the IT department of my bank (Komerční banka) is acting smarter than they should be.
When I tried to log in to the Internet banking, I got a message saying that "OS Linux is no longer secure" and recommending that I use an up-to-date OS, e.g. Windows 11.
Remote banking applications that proved their value when bank branches closed during Covid are thriving as financial institutions and customers learned how to use them and enjoyed the convenience.
@RichardJMurphy on 'creating money out of thin air' which (despite what your #economics textbook tells you) is the everyday business of #banking....
When I used to run through these practices with my students (on my economics for non-economists UG course), they were at first shocked, but then realised the true importance of knowing this... there is a 'magic money tree' but its only shaken when the rich need some cash.
"Elon Musk wants X to be the center of your financial world, handling anything in your life that deals with money. He expects those features to launch by the end of 2024"
Google Wallet will soon let phones without NFC (budget phones) make in-store payments with QR codes
The feature will launch in Brazil first, allowing Android users to pay through their debit or credit card by scanning a QR code displayed on the payment terminal. Since most smartphones in Brazil do not ship with NFC, adding QR code support for payments will ...continues
Historical question! Does anyone know when institutions in the English-speaking world - corporations, government departments, etc - began opening bank accounts in their own names rather than entrusting funds to individual officeholders (who often mixed public and private funds in personal accounts)? I'm currently looking at 1830s-40s Canada where, if I'm understanding the admittedly sparse material correctly, this shift had not yet occurred. @histodons@econhist
A little advice? Especially folks who work at a bank?
Out on my walk I found a check in the grass. Filled out for a decent amount, not endorsed on the back. It was from out of state, so I couldn't return it directly to a house in the neighborhood.
A branch of the bank on the check was near my walk though, so I took it to that branch and gave it to a teller.
I couldn't think of any other solution that wouldn't be weird or creepy.
Is there some other way to handle that? Should I have mailed it to the person who wrote the check?
Film telling the (mostly true) story of the 2008 financial crises. Surprisingly, this is a compelling movie, with good performances by all the leads (including a difficult to recognise Brad Pitt). The film also uses guest celebs to explain the intricacies of merchant banking products.
The movie is fast-moving, entertaining, and informative.
#Banking deserts are expanding, with an annual total of 600 branch closures expected by the end of 2023 & around 60% of the branch network from 2015 now closed.
We are assured that banking hubs will pick up the slack & the Govt. has required (though with no clear enforcement mechanism) 95% of customers to have access to cash within three miles.
The banks are doing well out of the move to online/cashless banking; this change is not a reflection of customer behaviour, its driven by profiteering!
I received another email from #StandardBank, advising me to stop using a password to log into Internet Banking, and switch to scanning a QR code from within the Mobile App. No, Standard Bank, I'm not going to do that. Because it's stupid, and here's why:
The whole reason for me to visit Internet Banking on my computer is because I do not WANT to log into the banking app on my phone. But in order for me to use Internet Banking on my computer, they want me to open the app on my phone, log in, then navigate to the menu item for QR code scanning, and then scan the code I see on my PC monitor. At which point, I may as well use the mobile app. Which I didn't want.
Why can't they just use one of the many many Authenticator apps, like a normal company? I'd be more than happy to open my authenticator app, find Standard Bank, and punch the code in. It's good enough for Google, Microsoft, Github....
I was watching stuff on the CBC Gem app over the weekend and this forced me to watch ads. Like TV-style ads. This is something I haven't seen in probably years. Painful.
CDIC has been advertising that we shouldn't worry about American banking drama spilling over here because Canada has deposit insurance.
Deposit insurance only covers up to a max of $100k. This includes your investments. If scat ever hit the fan, I hope you weren't planning on retiring on those RRSPs.
JPMorgan CEO Jamie Dimon expressed his belief that artificial intelligence (AI) could be applied to every aspect of the company's operations, potentially replacing humans in certain roles. He highlighted that AI is already heavily involved in tasks like equity hedging and idea generation. Dimon acknowledged that AI may replace some jobs but stressed that technology has always done so throughout history. He also expressed concerns about AI being misused by bad actors, particularly in cyberspace, but hopes that legal safeguards will prevent such misuse. Dimon believes that AI will add significant value to the workforce and aims to redeploy displaced workers in suitable roles if necessary.
I’ve spent over an hour on the phone w/my credit union today for what shouldn’t have been a call in the first place: adding my card to my phone for tap-to-pay. Every other card I’ve added has been a quick, automated process.
Aaaaand by the end of the call, it still wasn’t working.
I really want to support my local credit union, but this is unacceptable. I’ve been trialing Monzo for my pocket money; this may push me over the edge to use it for our joint account as well.
VP of Russian bank Kristina Baikova, 28, falls to her death from window of Moscow apartment (www.lbc.co.uk)
A Russian banking executive, 28, has died after falling from a window of her Moscow apartment.
Banks fined $549M after senior execs found secretly texting on Signal, WhatsApp (arstechnica.com)
Banks have been fined more than $2.5 billion for violating record-keeping laws.