Ian Jelf wrote:

In message , Al
writes
Ian Jelf wrote:

In message , Al
writes
And, I put it to you that BCCI being an LDT would not have set alarm
bells ringing with you, because you did not then know that status.

Actually I did but that's neither here nor there.

Fairy nuff. Were your alarm bells loud enough to motivate you into warning
people away from BCCI?

No, as I didn't know anyone who deposited with them.

tease Oh, so if it goes titsup.com without anyone you know being involved
that's okay is it?! /tease

To be honest, though, the only reason I'd heard of them was because they
were cited in a lecture I attended as an example of a Licensed Deposit
Taker, rather than a bank. It just struck me as odd but only in
passing.

There's a bit of a libel hazard there, I should
imagine!

Really? Er, why? :-)

One might accidentally note them to be an improper bank rather than a proper
LDT. 'Bank' in the common vernacular can arguably be construed to cover the
functions of an LDT, particularly when it's part of the name. Calling them
'improper' could therefore be argued as libellous.

And
managing without some sort of bank account these days is pretty much
impossible I would imagine.

Not in the black economy. Every now and again I come across reports of
faces who have never claimed welfare, don't have bank accounts and just
don't appear in official records. Everything is paid for out of pocket.

I just wonder how people manage in such a way. What do they do when
they have to cash a cheque or pay for something by post? I suppose
they never do such things.......

I cash cheques all the time, but only as a convenience to my custards who
don't have wads on them at the time; in every case, I've been asked
beforehand if I'd prefer cash. As for paying things by post, I honestly
can't remember having to do so more than once in the last five years, and
then only because it was less inconvenient than the alternative.

I understand that a/c payee cheques can be cashed at 90% of the face value
at third parties.
I've seen shops offering such a service but don't know much about how
they work.

A bit of thread drift here.......

Agreed. ulli and utl removed.
--
Al