More WeRe Cheques not being accepted
Looking at Peter's video, it looks like he has convinced himself that by putting a red stamp on a cheque, he has magically cleared it.
He doesn't understand what swift is or how it works in terms of payments. Swift is in its most basic form nothing more than a interbank messaging service.
I will give Peter a clue, look up Correspondent Banks
Anyway, he says that he doesn't use swift he uses swallow (what happened to spit ? - guessing peter prefers swallow)
http://werebank.com/issues/upload/kb/faq.php?id=46
"
SWALLOW is the clearing facility whereby WeRe Bank transmits funds, electronically to the PAYEE's bank in a highly secure format when compared with the security aspects of SWIFT as it was, when set up in 1973, in Belgium."
Peter contradicts himself. One moment he says that he amends the ledger, so the other bank must have the money, but here he says that he uses swallow to transmit funds.
"WeRe Bank however, has nothing to hide and so
sends the CREDITS of its Members to the PAYEE's bank over a relative secure network called the internet - which did NOT exist in 1973, as such."
But hold on Peter, no one else in the world uses Swallow as a payment system. It would be like sending an email to someone that does not have a computer.
