First thing Wednesday morning and I've blown my own mind with confusion over how banks work.
I was thinking... I do work for American businesses. Usually, they pay by credit card to Google Checkout, who then pay money into my business account, which is then eventually transferred to my personal account. I was just wondering... where is the actual cash?
From end to end, there's no physical cash involved, and I can't work out what happens? Do the banks settle with each other at the end of the month or something? If so, does it actually involve taking a case full of cash to the other bank?
Sorry for a bit of a stupid question!