Strange 19th century banking

Posted Sep 15, 2005 17:50 UTC (Thu) by rogerd (guest, #4170)
In reply to: Strange 19th century banking by macc
Parent article: The Grumpy Editor's guide to personal finance managers (Part I)

Check Kiting, yeah, that is what it's called.

Even our US system calls that fraud, and will prosecute people for it.

I think the last Banking bill here made it allowable to post an electronic copy of a check as if it were physically received, thereby reducing the "check's in the mail" timeframe down to the speed of light transit.