OT [nzlug] Vendor of bits & pieces in NZ who does Paypal

[Phillip Hutchings]

> > Wrong. ASB is a registered bank in Aus,
>
>
> wrong, ASB is a registered bank in NZ. It is a New Zealand registered
> company (ie under our Companies Act) and is also registered as a Bank
> with the NZ Reserve Bank. It is subsidary of Commonwealth Bank (an Oz
> company and registered in Aus as a bank under the Aus equivalent of the
> Banking Act.

That too. The point was that a bank faces a lot more scrutiny than
PayPal does. If a bank decides to charge a 50% currency conversion fee
then the government will step in and do something, if PayPal do then
you're screwed.

-- 
Phillip Hutchings
http://www.sitharus.com/