The Netherlands: banking industry electronic transactions work against consumers and in favor of banks during Public holidays and weekends - by RM

Banks in the Netherlands and probably also in many other places around the world are saying they can not make automatic electronic transfers during religious and other public holidays.

The question one should immediately pose ,when the banks make that statement is; why? Why should automatic banking transactions done on public holidays be any different from those done during the regular work week?

 For example: if you make an electronic transfer during the 4 day Easter holiday weekend in the Netherlands, say on Good Friday, to another bank account, the transferred money is immediately electronically debited from your own account, but than, the money only re-appears 4 days later on the account to which it was electronically transferred. before you see that transfer on your statement.

Obviously the question it raises is: WHAT DOES THE BANK DO WITH YOUR MONEY during those four days, or any other amount of time they hold it without telling you where it is or what they do with it during that time ?

What is happening to your money while it is hidden those four days of the Easter weekend or less during other regular Public holidays ?

The answer should not be too difficult to figure out . The bank has probably been making millions on interest and other speculative activities with your money.

If you ask the bank, however,  you will certainly get  a rather vague story.

Something definitely needs to be done here, especially given the bad reputation that banks have gained in recent years during and after the financial crises.

Almere-Digest

The Netherlands: Are we lazy or clever? - work output lowest in the industrialized world.

Overall, the entire workforce in the Netherlands averages around 29 hours of work a week -- the lowest of any industrialized nation, according to the OECD.  However they earn some of the highest average annual wages: euro 35.000 ($47,000)

The four-day workweek is nearly standard in the Netherlands, especially among working moms.

About 86% of employed mothers worked 34 hours or less each week last year, according to Dutch government statistics. Among fathers, about 12% also worked a shortened workweek.

Dutch laws promote a work-life balance and protect part-time workers. All workers there are entitled to fully paid vacation days, maternity and paternity leave. A law passed in 2000 also gives workers the right to reduce their hours to a part-time schedule, while keeping their job, hourly pay, health care and pro-rated benefits.

Read more: World's shortest work weeks - Netherlands (1) - CNNMoney