Banking emergency planning and compliance

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First post so I hope this comes through.

Interesting thing happening at my local Credit Union. If you vist the DefCredit (Defence Credit Union) over here in Australia, NSW, Sydney, Moorebank, moorebank Ave. (hows that for verifiable?) you will find the desk clerks filling in a big accounting book every time you make an electronic transaction.

The book is the DefCredit's Y2K Emergency Plan. If the systems go down they will use the books to figure out who owns what and to keep funtioning. They also canceled all of their credit cards and forced the account holders to take a new "Compliant" card with a new pin number.

How on earth can a modern Credit Union expect to keep track of thousands upon thousands of transactions in hand written books? and what does this say about their confidence in the new compliant systems?

I have $1600 in the DefCredit and it suddenly feels a little less than safe.

-- praxis (overdrive@comcen.com.au), October 11, 1999

Answers

Several months ago,I asked my banker how they were doing in regards to being ready for y2k.I was told they plan to back up the accounts onto disk(?)and if they didn't have power then they would use solar calculators.He seemed very pleased with the plans.

A few threads down about platnium,a man said (I think his bank)a bank is now limiting the amount a person can withdraw from their accounts.The limit is $3,000 per day.

-- Maggie (aaa@aaa.com), October 11, 1999.


praxis,

Congratulations on your first post! Good to hear from the land down under. We've had some other posters from your area but haven't heard much lately. Will you be able to keep us posted on New Years Eve as to what is happening over there? You'll be the first to know of course if a lot of things start crashing right off the bat and we'd appreciate the advance warning. Would love to hear from you more often! Take care.

-- @ (@@@.@), October 11, 1999.


* * * 19991011 Monday

V-e-r-r-y Interesting!!

Bank1One has issued new ATM cards to customers of a recent acquisition, NBD (National Bank of Detroit), with a letter _insisting_ that the new card be "activated" before expiration of the then-"current" NBD ("PassPort"(TM)) cards.

Here's what I found to be the relatively "strange" part:

. Late last year (1998), my wife and I received a new NB(ster)D cards--Exp. Date 09/99--to replace cards that the bankster's sleuths had deemed to be _allegedly_ compromised by fraud perpetrated by local merchants. Suspicious, the Exp. Date! Hmmm...

. I lost my card--it happens, ya know?--in January (1999); received an _NB(ster)D_ replacement with an Exp. Date 03/01! Looking better. Perhaps some movement re Y2K? (Banksters and credit card sharksters have been claiming "compliance" since mid-1998!)

. Bank(ster)1One buys/merges NB(ster)D.

. In August, the wife and I receive new Bank(ster)1One ATM cards, identical Exp. Date 03/01 and a computer generated form letter _urgently(!)_ instructing us to "activate" these new cards BEFORE THEY EXPIRE. (No Exp. Date was included in this form latter!)

. Wife, dutifully, activates her card.

. Self, programmer that I am, "smells" something amok from the details--or lack thereof--and general nature of the computer generated form letter. I--for the fun of it--hold off activating the card. After all, my old card (Exp. Date 03/01) was still working without any hitches.

. About 2 weeks after receiving new the card (Exp. Date 03/01), I receive an URGENT letter from Bank(ster)1One instructing me to activate my card BEFORE THE OLD ONE EXPIRES (Exp. Date 03/01!)! I, again, hold off activating new card to see what happens, next.

. Another URGENT letter arrives--2 weeks later--telling me that my old card (Exp. Date 03/01) is about to expire and to activate the new card to avoid alleged "problems."

. Unwilling to play through the game of "chicken" (would the old card REALLY "expire"?), I activated the new card at the end of September.

I'll never know whether there was a Y2K "problem" with the old card and/or the computer program issuing all those urgent activation notices based upon interpretation of the original Exp. Date 03/01 as 03/(19)01.

As to the (lame) contingency/continuity plan in the case of this Australian bank, handwriting parallel journal entries, I haven't seen anything comparable, nor have I heard of such, in southeast Michigan.

The _only_ rationale for and bankster perceiving that such manual contingency plans has got to be that should T-Y2K-SHTF REAL BAD, it would indeed be a strategy sufficient to handle the de facto LOW VOLUME OF BUSINESS THEREAFTER, "LOCALLY!" No?!?

It could possibly say nothing at all about "their confidence in the new compliant systes," but rather, VOLUMES about their confidence in the cross-bankster (domino) Y2K scenario!?!

Any similar patterns experienced "out there?"

Just some Y2K-queazy thoughts to chew on!

Regards, Bob Mangus

* * *

-- Robert Mangus (rmangus1@yahoo.com), October 11, 1999.


Banks = Toast...

The BIS in Europe said so - they are the central bankers central bank fer 'cryin out loud... :)

-- Andy (2000EOD@prodigy.net), October 11, 1999.


Hey Andy,

I dont know about you but my radar has been picking up big time. Things are starting to cook. There has been an almost measurable subjective shift over this weekend. I sense that the next two weeks is going to be-------------------------------------------well, let me just say-----no forget that--we will see the beginning this week. Stocks,Gold, You got that same feeling??? I also feel that the days of easily getting on the forum are very few.

-- David Butts (dciinc@aol.com), October 11, 1999.



Yes I do David - I am making some plays in a few hours - hope I'm doing the right thing - we'll see soon enough :)

For me it's now all about timing and juggling and keeping a damn good look-out!

This is the start of the End Game...

-- Andy (2000EOD@prodigy.net), October 11, 1999.


Dave: An almost measurable subjective shift regarding what particularly:Y2K or the price of gold or what? And a shift by whom: Y2K aware people, ordinary people with stocks and bonds, people into gold? Could you be a bit more specific?

-- cody (cody@y2ksurvive.com), October 11, 1999.

...subjectively shifting...

It's Columbus Day, fer crying out loud...next two weeks and Halloween. Columbus Day was ALWAYS a shift in Consciousness looking toward the END of year. In Northern parts of the country, snow flurries have already appeared. Out here in the Arizona desert, lots of people pushing Flats at Costco LOADED with Toilet Paper, Rice, Sugar, canned goods and 20lb Propane tanks. It wasn't that way just two months ago when I prepped and drew a few snide remarks from the checkout clerk.

Just 20 workdays 'till Thanksgiving, NO heavy lifting in December!



-- K. Stevens (K. Stevens@ It's ALL going away in January.com), October 11, 1999.


K.Stevens, you said, "It wasn't that way just two months ago when I prepped and drew a few snide remarks from the checkout clerk."

I didn't ever have snide remarks but I had some very embarrassing moments last spring. Maybe snide comments were the better end? Let me give you an example. The Fed spin had come down hard and was in full effect. I went and applied for a passport. I was asked of course where I thought I'd be going? Well, I didn't think being screened by the government as material for a passport was ground to lie. I'm not willing to mess with Uncle Sam. I was truthful. I stood tall and politely confident and explained that I was applying for a passport as Y2K ID. It was soooooo embarrassing. The clerk told me I was a bit soon for any possible "special" millennium design on the passport it'd have to be "ordinary."

-- Paula (chowbabe@pacbell.net), October 11, 1999.


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