Joe Miles A few years ago the reserve bank forced the major banks to come up with a system that moved money faster. Those banks did that and called it, The New Payments System. An example of it is the Osko payment system. Funds can now be transferred in seconds that used to take days.

BUT if you read the banks fine print, even though money now moves much faster and you have access to in almost immediately, the banks STILL use ther old slow system for the purpose of calculating interest, fees and chargers.

If you look closely at your internet banking you may notice 2 dates for transactions. The date the transaction took place and the date the bank uses to calculate interest, fees and charges.

So not all of the money movers faster.

I was about to say I don't know how the government let them get away with that. But I actually think I do.

Now what has any of this to do with an undersea cable between the mainland and Tasmania. Most likely my fault, as I easily digress