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What’s the Biggest Amount of Cash or Payment You Have Ever Seen? | FF News at Pay360
At Pay360, we asked the attendees from the banking and fintech industries conference the highest amounts of money that had already been transferred through their systems or, in one case, in a bag.
One person narrated that they have witnessed a deposit of almost five hundred million pounds— a stunning figure that jumps out in an instant while another referred to a transfer of about five million pounds that was so momentous that it crashed the bank’s network for a whole day.
Several others told stories of millions of pounds’ worth of payments passing through the accounts they manage daily. Although the exact amount or nature of the transactions were not always disclosed due to confidentiality, they offered a glimpse of their regular exposure to the transactions on a large scale, often involving tens of millions.
One of the most out-of-the-blue remarks was when a person mentioned having seen a duffel bag filled with a million pounds,—a reminder that cash is not out of the picture in all huge transactions.
Other respondents in the conversation referred to payments of the sums from 10 to 50 million pounds by faster payment systems, which is a confirmation of the efficiency and capacity of the banking infrastructure today.
The staff of fintech companies and banks who are also among the people handling these transactions, consider it to be an integral part of their job. However, for those outside the industry, it represents a rather rare glimpse into the world of high-value finance.
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