FlyingBanker From , joined Dec 1969, posts, RR:
Reply 1, posted (11 years 3 months 4 days 13 hours ago) and read 4432 times:
At work they announced this yesterday. While a great deal of banks are already practicing this, there are an even larger number who do not have the capacity to receive electronic images of checks which is how they are processed currently. The word is most financial institutions will not be able to comply for several years. I don't think the end is near....not quite yet at least.
SunValley From , joined Dec 1969, posts, RR:
Reply 3, posted (11 years 3 months 4 days 9 hours ago) and read 4295 times:
Bank Runs, as it used to be called were quite prevolent in the past.
Sometimes a group of banks would get together, and underwrite the operation of a "Bank Run" operation in a given geopraphical area. Usually a young pilot would operate a Twin Engine aircraft throughout a "state", stopping at most
cities, sometimes only 15-20 miles apart. IN the 70's & 80"s banks were confined to intra-state opeations only, and could not have branches owned by the same compnay interstate. Hence- Bank of America-Nevada, Bank of Ameirca California, Bank of America Arizona etc.
Usually at airports, a Check Safe was installed, and at the end of business each day, the banks would ready their checks for pick up by a secuirty company, who would deliver them to the airport safe. As the bank run would get underway, the pilot would stop at each airport, & pick up checks at each stop, and take them to the processing center in bulk. Many young pilots would receive large amounts of flying hours for this. This practice has become less prevolent, today, but in some areas it still is in motion.
Pilotpip From United States of America, joined Sep 2003, 3152 posts, RR: 10
Reply 6, posted (11 years 3 months 3 days 16 hours ago) and read 4129 times:
AirNet is a huge company, they have bases everywhere. The one I'm familiar with is CPS. There are a couple companies flying checks out of STL every night in BE58s and Twin Commanders. Another company that comes to mind is Flight Express.