Quote:
Originally Posted by AdultKing
None of these companies will maintain 110% of the funds held in customer accounts in the form of cash and security. Unless they can somehow be better than a bank and fully fund liability to account holders then they are just as liable to fall over badly if something goes wrong.
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Why are people so sure about this? Epassporte and most other other ewallet systems are NOT banks, so can't compare to them. Banks make biggest part of their income from interests/investments. Ewallets instead should use Fees to get the profits. Of course when total amount of deposits in such system gets enough high, there's a
possibility to tie it to something for higher interests, but this should be mentioned in terms then.
Obviously they won't hold millions as Cash, but they should maintain majority of account balances in somewhat liquid form and not tie it to some investments, isn't there even some laws about this?