Brexit: The fallout

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9 minutes ago, swimmer said:

 

Source?  I am not exactly sure what the definition of an "internet company" is but, when I look at the massive range of companies in south Germany alone operating on the internet in everything from process solutions and ERP, to space and satellite technology, to high end medical solutions, and lots lots more, I might need some convincing of that.   

 

Certainly, in Germany`s high tech hub, watching all of that, I do wonder where such assertions come from.  Where is the UK`s equivalent of the internet behemoth that is SAP, for instance?  Or the GPS solutions being delivered by the suppliers of the space and satellite agencies?   I suspect that such companies probably might well not be included in many anglocentric definitions of what an "internet company" is.  There is, though, room for everyone :lol:.

It was a shock when the German KUKA robotics company was taken over by the Chinese. Europeans are losing too many four generation industries.

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It is also a great truism of business that they often do not use what they flog to others.   That people and nations flogging tech do not go big on it themselves is to be expected.   Not a sign they are behind the curve or anything.   

 

Of course getting your money lost in cyberspace or whatever is for the mass consumer.   Those of us in Frankfurt region will stick to our large and plush city centre branches, and make sure to keep a good supply of physical assets in its gigantic vaults, thanks :).   Who expects otherwise?   Same as many tech device gurus make sure keep their kids well away from the devices they invent, and out of classrooms with IT.

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3 hours ago, swimmer said:

Of course getting your money lost in cyberspace or whatever is for the mass consumer.   Those of us in Frankfurt region will stick to our large and plush city centre branches, and make sure to keep a good supply of physical assets in its gigantic vaults, thanks :).   Who expects otherwise?   Same as many tech device gurus make sure keep their kids well away from the devices they invent, and out of classrooms with IT.

 

I live in Frankfurt and I don't like the slow banking :P The branch I opened up my account in certainly was plush though, I agree with you on that! 

 

In Germany, it seems if I transfer from bank A to bank B on the Thursday before Good Friday, it won't appear in bank B until at least the Tuesday after Easter Monday. And if I transfer after 5pm on that Thursday, then that's even longer before it completes. Now, if I do that in the UK, the transfer is almost instant regardless of Easter.   Reason why the lecture that the clark gave me now irritates me so much, is that having been told how lucky I was to be able to have a "secure" bank account, every month I have to go go through messing around with TransferWise and Revolut which becomes a several-day chore because my German bank takes so long to do a SEPA transfer to either of those two. I incorrectly assumed it was because they were not German banks, so opened an N26 account because that has Transferwise integration in it, and that still takes forever to transfer out of the account.

 

The longest delay in German banking, was when I used BillHop to pay my deposit on the apartment I was moving in to - the landlady's Spada bank took 5 days to make the funds available to her because of "security checks". I was planning on using BillHop to pay my rent each month, as that would mean getting a free flight every 3 months, but she asked me never to use BillHop again...

 

 

 

I've often heard this about tech founders, and I think there is a lot of wisdom in this :-)

 

 

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19 minutes ago, Mackle said:

 

I live in Frankfurt and I don't like the slow banking :P The branch I opened up my account in certainly was plush though, I agree with you on that! 

 

I've often heard this about tech founders, and I think there is a lot of wisdom in this :-)

 

Down the road in Germany`s official Digital City, we are still very much paying in cash and using chalk (and acetate projections) in our schools and some of the Uni settings.  Interesting to create? Of course.  Want to use it?  Erm, not really.  Want to get the airport bus to the latest IT or AI or space convention?  Cash only please.   And so on.

 

Nobody bats an eyelid if it takes ages for a payment to be made :lol:.   I believe I now have the option for real time, should I choose to take it.   But I never have.

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@Mackle It's also worth noting that the German banks on the whole were not badly affected by the financial crisis in 2008. They were also a lot quicker at bank transfers. My UK bank use to take up to 4 days, I still don't think transfers are done within an hour or so unlike my German bank. UK banks are introducing more and more technology not for the benefit of the customer but for their profit. So now everyone has cashless swipe cards but now must carry a card protector in their wallet to stop their details being hacked.

 

Sorry but I much prefer the slower German way than the Hi Tech british version that leaves us more exposed to crime and less able to deal with problems.

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7 hours ago, Kev Windsor said:

To be fair Britain is much faster at changing than Germany. Britain has created more internet companies. And let's hope that Britain continues to trade with Europe.

But Germany tends to learn from it's mistakes where as we keep on repeating them.

 

German hyper inflation and the great depression led to tightening of bank regulation and peoples attitudes in Germany where as we in the UK say lessons will be learnt, do the bare minimum and then a few years later do exactly the same again. Again, the Wall street crash and Depression followed light or non existent regulation of the stock exchange. That was tightened up and then came Thatcher who deregulated the banking sector. Hey presto, 2008.

 

Britain might be very innovative and has proven so time and again but unlike the Germans, we give our innovations away to make a quick buck rather than nurtur them.

 

WWW invented by a Brit. LCD, invented by a Brit, Jet engine, sort of because the Italians and the Germans were there as well but we gave the technology to the Americans and the Russians. Atomic power, the Americans were flabbergasted when the realised just how far behind British scienntists they were. The list goes on.

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@French bean if I transfer on Good Friday, from one UK bank to another, within 5 minutes it's showing in Bank account B.

 

I know this, because I did an experiment Easter last year with Deutsche Bank and N26, and between Natwest and MetroBank.  From German bank to German bank didn't complete until Wednesday. Natwest to Metrobank, Metrobank to Natwest, within 5 minutes, on a public holiday.

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8 hours ago, Kev Windsor said:

To be fair Britain is much faster at changing than Germany. Britain has created more internet companies. And let's hope that Britain continues to trade with Europe.

Good Friday, sancrosanct religious day, the germans haven't sold out totally to consummerism.

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BUT... if I am doing transfers using online banking, I am not going in to a branch, no one is needing to be at work that day, so I don't understand why it being a public holiday should affect an automated process that needs no employees manual intervention?

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16 minutes ago, Mackle said:

BUT... if I am doing transfers using online banking, I am not going in to a branch, no one is needing to be at work that day, so I don't understand why it being a public holiday should affect an automated process that needs no employees manual intervention?

I am old enough to remember being in Hamburg and  with Hamburger Sparkasse since c 1989..and the bastards closed for lunch back then and no ATM machines and I had time at lunch time to sort out things but no: closed.

All fine in a village atmosphere but NOT in a big, commercial city.

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3 minutes ago, john g. said:

I am old enough to remember being in Hamburg and  with Hamburger Sparkasse since c 1989...

 

My first encounters were in 1977 trying to cash travellers cheques (remember those things?).

 

I did succeed.

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Yep, HEM ! I remember!

Unrelated to BREXIT..but I was at an airport in Argentina on a Sunday and tried to buy a ticket to Patagonia c. 1974 . All in my diaries. I was told they couldn´t do Travellers Cheques on a Sunday.

Luckily, a man overheard it and asked me where I was going and where I was from. 

" Ah, you are from London..my daughter is studying English there. I am the pilot...come with me . "

I sat with him in the cockpit and took pics of the Andes. I flew free!

Unrepeatable memories..I am grateful.  .

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6 minutes ago, john g. said:

I sat with him in the cockpit and took pics of the Andes. I flew free!

 

A cockpit ride is always impressive.  I recall my very first - a KLM DC9 from Manchester to Amsterdam organised by a friend from the aeromodelling club who was KLM freight manager in Manchester at that time.  Nowadays its very difficult - you have to know at least one of the cockpit crew & then it rarely works.  My last one was 2014 with LH from FRA to HAM (First Officer was a gliding club member).

 

I've been very fortunate.

 

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