Get Rich QuickJabboy contacted us because he's skint. So what have you done to make money fast? Did you actually make anything, or were you just ripped off by someone who really was getting rich quick? Did you have to sell your soul?
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chthonic, Thu 31 Jul 2008, 16:57)
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GhostingIt's called ghosting.
If in a rush, it takes about 10-25 seconds to clear a cheque (as I've watched the programs run through on a large financial institution's mainframe), if things were really pushed... but this is how it really goes :
You pay in cheque
Bank takes money off payee rather sharpish (normally that evening), 'ghosts' the money into their account
They play it on the stock market, or have it there as money to invest for a couple of days - i.e they make money off your cheque using it as capital
3-5 day term comes up, job runs on bank's mainframe in the morning, 'deghosts' the money into your account.
It does also prevent fraud slightly, things can be cross-examined, but mainly I believe it was for the £££ they make.
Thousands of cheques, millions of pounds in ghosting = good profit.
Bastards eh?
(, Mon 4 Aug 2008, 23:42, Reply)
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