Barclays Transfers?

brookerbabyisababy

I just transfered some money from my Savings account to Current Account. However the money is showing as having been processed as for 05/05/2009. Although the current cleared balance has been updated accordingly. What is going on? Can I use this money now to transfer or should I wait till the 5th to avoid a referral fee?

Extant

Saturday, Sunday and Monday are not working days this week - with the bank holiday and all. Your transfers are therefore dated for the next working day.

brookerbabyisababy

can i use the money in the mean time. since i will go overdrawn in the time from now to 05/05/2009

agsnu

brookerbabyisababy wrote: »

can i use the money in the mean time. since i will go overdrawn in the time from now to 05/05/2009

Yes, because any transactions you make to withdraw money will also be dated on 05/05/09.

brookerbabyisababy

Won't withdrawels be sorted first on the 5th and then depoists. Thus making me go overdrawn?

zx2011

Barclays working day start ats 6.30pm and finish at 6.30pm on the next actual working day.

So "today" started at 6.30pm on Friday and will finish at 6.30pm on Tuesday. All of "todays" transactions will be dated 05/05/2009.

I have payment going in on Tuesday but the funds were availbale to me yesterday as it's part of "today"

It makes no sense at all but that's how Barclays works.

Extant

brookerbabyisababy wrote: »

Won't withdrawels be sorted first on the 5th and then depoists. Thus making me go overdrawn?

No, there is no particular sorting method applied. Your balance during the day doesn't matter, any charges/interest are calculated on the end of day balance.

Extant

marcgr wrote: »

Barclays working day start ats 6.30pm and finish at 6.30pm on the next actual working day.

So "today" started at 6.30pm on Friday and will finish at 6.30pm on Tuesday. All of "todays" transactions will be dated 05/05/2009.

I have payment going in on Tuesday but the funds were availbale to me yesterday as it's part of "today"

It makes no sense at all but that's how Barclays works.

It depends where in the bank, actually - some places it's as late as 9pm. Cheque clearing is 7.30pm, etc.

A lot of banks actually work in this way - weekends just don't exist, so you start working on the next day. It's not like there's a black hole that transactions disappear in to. Most of this stuff works on batch, so the only way you wouldn't see these transactions as being available is if we purposefully delayed them.

brookerbabyisababy

Thank you all you guys for your help. Really helpful.