Timeline for Why would a trading platform only allow withdrawal to the source of payment?
Current License: CC BY-SA 3.0
5 events
| when toggle format | what | by | license | comment | |
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| Feb 7, 2018 at 18:54 | comment | added | Guan Yang | In some jurisdictions this wouldn’t quite classify a business as a bank, but rather as a money transmitter or money service business or a similar designation. Although these are usually not as heavily regulated as a bank, it may still be something the business may try to avoid. | |
| Feb 7, 2018 at 17:41 | comment | added | Maja Piechotka | @OrangeDog IANAL but I'd assume the difference is that company takes possession of money in between and customers don't direct money to individual employees. On the other hand band/trading company doesn't own money in their accounts and the transfers are under full control of customers. (I'm not sure how it would work with tips but they are entered in EU separately so maybe CC company is dealing with it?). Bigger problem is that trading company usually is transferring money to investment funds/market makers so they would already fulfill the definition. | |
| Feb 7, 2018 at 16:32 | comment | added | OrangeDog | Source? By your definition any company that sources money from its customers and transfers it to the accounts of its directors/employees (i.e. basically every company) is a bank. | |
| Feb 7, 2018 at 7:07 | review | First posts | |||
| Feb 7, 2018 at 11:52 | |||||
| Feb 7, 2018 at 7:06 | history | answered | Philippos | CC BY-SA 3.0 |