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deary65
Posts: 818 Forumite
Any posts by myself are my opinion ONLY. They should never be taken as correct or factual without confirmation from a legal professional. All information is given without prejudice or liability.
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Sounds great and not before time :j
Now if they could turn their attention to the cheque clearance situation and get that sorted too.0 -
i agree.... about blooming time......smile --- it makes people wonder what you are up to....
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It is estimated that the banks make £35 million a year in interest from the delay caused by the 3-day BACS clearing cycle (see The Clearing Cycle).
It would be rather naïve to assume that, once the transfer times have been reduced to one day, the banks are not going to recoup the lost revenue one way or another.
For a discussion of the BACS transfer system and further comments on the changes, see also BACS transfers.Dagobert0 -
Dagobert wrote:It is estimated that the banks make £35 million a year in interest from the delay caused by the 3-day BACS clearing cycle (see The Clearing Cycle).
It would be rather naïve to assume that, once the transfer times have been reduced to one day, the banks are not going to recoup the lost revenue one way or another.
For a discussion of the BACS transfer system and further comments on the changes, see also BACS transfers.
i agree, plus its going to open the banks up to SERIOUS loss through fraudulent transfers:santa2:0
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