OT: Banc of America Article

["Al Rowland" <alan_r1 () corp earthlink net>]

Your assumption is my account is at my local branch. Neither is my safe
deposit box. It's at a different, larger branch in the adjacent suburb.
My 'account' is likely in one of their corporate monoliths downtown,
hence the network connection. That's why my card works as well in
Virginia (my most recent trip) as it does at my local branch in LA. My
local ATM also needs access to other bank networks if they have any hope
of collecting that usury fee for not-my-bank customers using the teller.
It's about the Benjamins.

I completely agree with your second point but don't expect change until
outside forces affect change in the current business model. Just my 2¢.

Best regards,
______________________________
Al Rowland

> -----Original Message-----
> From: owner-nanog () merit edu [mailto:owner-nanog () merit edu] On 
> Behalf Of alex () yuriev com
> Sent: Wednesday, January 29, 2003 9:47 AM
> To: Al Rowland
> Cc: nanog () merit edu
> Subject: RE: Banc of America Article
>
>
>
> > IIRC, the ATM system is similar to CC transactions. A best 
> effort is 
> > made to authorize against your account (Credit Card or 
> Banking) but if 
> > it fails and the transaction is within a normal range (your 
> daily card
> > limit) the CC/ATM completes the transaction.
>
>       Too bad it is not the case, but lets presume that it 
> is. How does it explain branches not being able to process 
> direct withdrawals either?
>
>       The incident on hand illustrates that the design of our 
> financial networks is broken. If a non sophisticated worm 
> managed to create so many problems, what is going to happen 
> should a real attack be mounted against the networks used by 
> financial services?
>
> Alex