Banks

[USER1999]

Why when I transfer money from my First direct account to my Barclays account does it take 5 working days?

In this day of computerised every thing, I push go, it disappears from the screen, and 5 days later (if I am lucky) appears on the other screen.

What the flip takes so long?

 

[Leftie]

Someone's extracting the Michael there Murph.

When I do inter-bank transfers they usually go through the same day or so.

 

[USER1999]

Ahh, but you probably aren't in a hurry.

 

[MizunoGreyhound]

If you transfer funds across banks, for some stupid reason they say it takes 3 days

5 is seriously having a laugh

When I transfer from one account to another at my own bank via d/d every month, it leaves my account first thing but does not arrive in the other account till close of business same day

 

[Sneds]

Inter bank transfers should only take 2 hours, but frequently are pretty much instant.

The last 10 or so transfers I have done between friends and family have all been instant.

I'm assuming you're doing it all online?

 

[level5s]

they dont need to pay interest (little difference these days) in the between days.
they get to gamble with it, using it to buy greek debt etc etc

 

[MizunoGreyhound]

Inter bank transfers should only take 2 hours, but frequently are pretty much instant.

The last 10 or so transfers I have done between friends and family have all been instant.

I'm assuming you're doing it all online?

Mine is set up as a monthly direct debit

 

[bobmac]

Something similar used to happen in one of the Scandinavian countries years ago.
5 working days to transfer money.
People hated it so much in the end the Government TOLD the banks to sort it and within a week, they were transfering money on the same day.

Whats the chances of our Government doing that? (oops, we haven't got one) and if we did, would the banks listen?

Maybe that's where they get their big fat bonuses from

 

[Imurg]

Ever wonder how billions are lent to Countries/Banking systems etc?

Its all these transfers that rattle around in cyberspace for a week - they use that and then give you yours back when someone repays.

 

[Parmo]

Halifax transfer within two hours which is good.

 

[RichardC]

Faster Payments should only take upto 2 Hours. Not sure if thats amount limited.

 

[Canfordhacker]

Faster Payments was what the banks did to reduce the time to Intra Day before the government made them do it. That way they kept control rather than have it imposed. Cost me two years of my life implementing the bloody stuff. if your payment is not happening same day, something is wrong.

 

[USER1999]

It has finally come through this morning.

Now I can pick up my new car!

Only problem is, I'm not sure my golf clubs will fit in it.

 

[bobmac]

Only problem is, I'm not sure my golf clubs will fit in it.

If they dont fit, get a ladies set, they're shorter

 

[USER1999]

When I come off the course after the medal, a few of mine might just fit in the glove box.

 

[viscount17]

Something similar used to happen in one of the Scandinavian countries years ago.
5 working days to transfer money.
People hated it so much in the end the Government TOLD the banks to sort it and within a week, they were transfering money on the same day.

Whats the chances of our Government doing that? (oops, we haven't got one) and if we did, would the banks listen?

Maybe that's where they get their big fat bonuses from

Apparently we now have Vince Cable sorting out business and banks - there was a bloke from the CBI on the radio this morning who didn't know this until the reporter told him. then he got worried