Back to 1995

Chapter 481

Just like people, everyone has their own way of survival, and banks are the same. Banking giants such as UBS and Citigroup mainly focus on users with deposits of more than 50 and a million dollars. big head.

The small and medium-sized banks are not comparable to these giant banks, but they also have their own way of survival. The way of survival of Alliance West Bank is low handling fees and low commission fees.

Relying on lower handling fees than big banks, coupled with some specially set services for users, such as deposit interest, tax incentives, etc., it has also attracted a lot of money in American states, especially in the western states. user.

But today, in less than a day, more than tens of thousands of users have transferred more than tens of millions of dollars to the Western Bank of Alliance. It is normal for the dollars on the user account to be transferred, but such a large-scale transfer Let's go, then there will be something tricky, which is equivalent to being run on!

Being scolded by the department manager, the supervisor of the savings department of the Alliance Western Bank was also sweating profusely. He didn't know what was going on. The money was transferred.

After making multiple phone calls, the supervisor of the savings department finally got his brows on his face, "All the dollars spent by bank users have been transferred to Comerica Bank, and there is also... a PayPal payment platform!"

"PayPal payment platform?"

Hearing this name that he had never heard before, the manager of Alliance Western Bank was at a loss as to where this PayPal came from.

"PayPal payment platform, the deposit interest given is higher than that of Alliance West Bank, reaching 1.5%, and..."

Bank deposit interest in America is generally very low, or even has no income, and some even have to pay management fees to the bank. Generally, the annual interest is only about 1%. The deposit interest of Alliance West Bank to users is 1.25%. , in the American banking industry, it is already not low, and now PayPal has increased the deposit interest to 1.5%!

"And what?" the manager of the Western Bank of Alliance asked, suppressing his anger. He felt that PayPal was breaking the rules of the American banking industry for decades, and was deliberately going against small and medium-sized banks like Alliance!
Glancing at his immediate boss, he said, "PayPal's transaction fee is only 16% of that of Alliance Western Bank!"

The voice fell, and the head of the savings department heard a "bang". The landline phone was in the manager's hand and fell to the ground. There was a loud noise, and the entire office building fell silent for a while.

"PayPal is a madman, they are competing viciously, and they are going to destroy the entire American banking industry!"

The manager of Alliance Western Bank yelled, what does it mean that the handling fee is only 16% of their bank, that is, a transfer of 100 dollars, and Alliance and other banks charge a handling fee of 0.32 dollars, and PayPal is crazy , reduced this fee to less than one dollar, only [-] dollars, and it is a one-way fee, only the payee is charged.

This is a big temptation for ordinary users, not to mention those merchants, who can save a lot of money just by this fee. The key point is that PayPal also launched the account anti-theft and anti-fraud transaction system for the first time.

I don't know how much better this is compared to banks that only charge handling fees and don't care about the rest.

Now the manager of the Alliance West Bank finally understands why the bank's users have changed their doors. If it were him, he would have to put the money on PayPal. The deposit interest is higher than the bank's, and the handling fee is higher than the bank's. Low, 24 hours to provide real-time transfer function, also provide account protection...

If PayPal really did what it said, the manager of the Alliance West Bank felt a little cold in his heart. He felt that a small bank like the Alliance West Bank might be beaten down by PayPal!
"PayPal is competing viciously. It has no license from the Federal Reserve Board. Wall Street will not agree with its emergence..."

The manager of the Alliance West Bank shouted hysterically that he wanted to kill PayPal in the cradle, and it really made PayPal develop. He felt that there would be no room for the Alliance West Bank!

In the Goldman Sachs office building in New York, Paulson is holding a meeting of executives, "Soros should do it this month. Goldman Sachs needs to be prepared. Siam, Bangzi, Japan Benzene, Singapore, and Malaysia will all be Goldman Sachs. The goal!"

Paulson waved his big hands and gave orders to a group of Goldman Sachs executives. As the leader of Wall Street, how could Goldman Sachs not know about Soros's activities, and even Soros' Quantum Fund, a part of the money, was It was Goldman Sachs who provided the ammunition for it.

Goldman Sachs, or several major institutions on Wall Street, actually treat Quantum Fund as a pawn, let Quantum Fund take the lead, and then they reap the benefits of fishing. After all, someone has to sing a bad face, otherwise Goldman Sachs and them , How to act as a righteous teacher who saved Siam, Bangzi and other places?

If you get it cheap, you can act like a good boy. If you become a man, you have to set up a memorial archway, which is what Wall Street is doing now, to squeeze out the oil and water in several areas in Southeast Asia, and you have to say thank you to the other party...

Just as Paulson was intensively making arrangements with Goldman Sachs, preparing for Goldman Sachs to make a big deal and complete this year's performance in a wave, an assistant hurried in.

Paulson's confidant, Pellet Greene, who had called Song Yang, saw the assistant come in, and after he whispered in Paulson's ear, Paulson's face unexpectedly appeared. The dazed look was fleeting, but Greene, who was familiar with Paulson, knew that Paulson must have encountered something that surprised him.

After arranging for Goldman Sachs to harvest leeks in Southeast Asia, Paulson returned to the office, followed by Pellet Greene.

As soon as he entered Paulson's office, he heard Paulson say in a bad tone, "Where did this PayPal come from? Who is Aaron Swartz?"

Wall Street says big or small, Goldman Sachs is well-informed, but it is impossible to keep an eye on all opponents, PayPal's news appeared before, but Goldman Sachs didn't pay attention at all, just like Zhu Chongba is still a beggar At that time, it was impossible for Wang Baobao to take 80 forbidden troops to grab Zhu Chongba's job, right?
After Pellet Greene entered, Paulson threw a newspaper in front of him.

Picking up the Wall Street Journal, Pellet Greene saw that the front page was a dizzying headline.

"Wall Street has ushered in great changes in a century, and PayPal will change the payment habits of American people!"

If he hadn't been convinced that the newspaper in his hand was the Wall Street Journal, Pellet Greene would have doubted whether it was some third-rate tabloid.

But when he saw the content in the newspaper, Pellet Greene's expression became a little more serious.

"On the first day of PayPal's launch, the number of downloads and registrations of global users exceeded 210 million, and the single-day turnover exceeded 800 million US dollars. Platforms such as Xueleshan Online, ebay, and Amazon claimed to support PayPal payment. PayPal is likely to use low-cost procedures. fee, replacing traditional bank transfer and remittance business..."

The Wall Street Journal, pays a lot of attention to PayPal, which just came out on the first day of its launch today. It believes that it can shake the status of major banks in America, not because of the strength of PayPal, but because it may replace the status of those small and medium-sized banks!

"Aaron Swartz," Greene asked, chewing on the name, convinced he had never heard it before, "where did PayPal come from?"

They are all experts, and they know the depth of their skills as soon as they make a move. With the posture of swallowing thousands of miles and tigers shown by PayPal today, and with the cooperation of so many companies and sending so many dollars to users, there is no one behind this. I don't believe it.

"There is not much news at the moment, I only know that PayPal is headquartered in Houston, Texas..."

When he heard the terms Texas and Houston, Pellet Greene, who had dealt with someone before, instantly had a figure in his mind.

Paulson's assistant continued, "PayPal has obtained a temporary electronic payment license issued by Texas, and now Alliance West Bank, Hudison City Bank, Estor Bank, etc. are boycotting PayPal. The ABA American Bankers Association can come out to sanction PayPal against the Federal Reserve Board, and there are rumors that PayPal's investor may be the founder of ICQ in Silicon Valley..."

"Bruno Song!"

Before the assistant could finish speaking, Pellet Greene said Song Yang's name, and immediately felt dizzy. He had dealt with Song Yang before, and it was because of this that he felt it was tricky. With Song Yang's style, Pellet Greene knew that in all likelihood, PayPal was invented by Song Yang.

"What the hell is this Bruno doing?" Hearing that Song Yang might be behind PayPal, Paulson looked at Greene, with a bit of helplessness and sneer in his tone, Paulson wondered if it was the gang from Silicon Valley The upstart is so bold that even Wall Street dares to provoke, "He wants to be an enemy of Wall Street?"

Paulson feels that the people in Silicon Valley have been dancing too much in recent years, making all kinds of big news repeatedly, almost without any taboos. Paulson feels that the only way to let those upstarts in Silicon Valley fall into a big fall , to let them know who is in control of America!

Pere Greene didn't laugh when he heard Paulson's words, "Bruno Song definitely doesn't want to make an enemy of the whole Wall Street, but he may indeed be doing this, and he has done it once!"

Paulson's smile froze on his face, Wall Street has always cut other people's leeks, but Song Yang has really cut Wall Street's leeks, just like the broadband that Goldman Sachs is using now, it is provided by America Telecom, Goldman Sachs uses a A seat fee of 500 million US dollars is bought for...

(End of this chapter)