Where is my money?

[suityou01]

So my cash is an electronic bit somewhere in the interweb.

Would this happen with bitcoin? And assuming not. Could I buy bitcoins with euros here one minute in Germany and sell them the next in the UK for pounds incurring the minimal loss or gain in exchange rates?

You do catch on quick

[NotAllThere]

When an international transfer went missing for me a eight years ago, the bank eventually found that they forgotten to fax the paperwork through to the receiving bank.

[scooterscot]

So my cash is an electronic bit somewhere in the interweb.

Would this happen with bitcoin? And assuming not. Could I buy bitcoins with euros here one minute in Germany and sell them the next in the UK for pounds incurring the minimal loss or gain in exchange rates?

[BlasterBates]

[Paddy]

A transfer of cash using my IBAN number from Germany to a UK bank I notice neither bank now has the money. I suspect something to do with the weekend and all.

But during such transfer where exactly is the money now?

I have noticed the same. I have also done "instant payments" to HSBC. HSBC has hung on to them for 24 hours. Moreover, a DD was taken from my account 12 hours before being requested. In other words HSBC backdated the instruction.

The answer is the banks don't actually have money. An inter HSBC transaction does not involve the bank having to find money. External transactions mean that the bank needs to know how much to borrow from other banks.

Where's the bank's money? It is invested in Hedge Funds. Don't take my word for this, read some books about it. "Bank Ponzi schemes" and how drug money kept HSBC afloat

[BrilloPad]

Earning money for one of the banks. They will spend it on swans wings and champers.

HTH

[scooterscot]

A transfer of cash using my IBAN number from Germany to a UK bank I notice neither bank now has the money. I suspect something to do with the weekend and all.

But during such transfer where exactly is the money now?