In Transit Bank Transfers

chicken28

I opened a Principality Savings Account & made an internet transfer from my Barclays Account to my Principality Account (Barclays Holding Account) it left my account that day but didn't reach my Principality Account until the sixth day.
I'm told that BACS takes upto seven days to clear from their Barclays holding account into my Principality account They are avoiding answering my question. Are they earning interest on my money during transit.
I have a substantial amount of money to transfer but do not want to lose sight of it for upto 7 days!!!
Please can you advise
Thank you

anselld

Yes you will lose interest and yes it might take that long but normally 4 days.
Use CHAPS same-day transfer if you have a large sum.
There will be a fee circa £25 but it might be cheaper than losing interest.

jack_spratt_2

If you do a chaps before 11am it should be in the other account on the same day!!
You could also ask about the faster payment scheme which some banks participate in which is free but there are limitations on the amount of money you can transfer.
If it is a large amount !! chaps is worth the fee