Why dont banks process things on Saturdays/Sundays?

callum9999

Southend1 wrote: »

I would rather the staff at my bank had the weekend free to spend with their loved ones than going to work to satisfy the whims of people who are too greedy and impatient to wait an extra few hours for something.

While I agree with you this is a non-issue, that logic is absurd. I take it you therefore think pretty much the entire country should shut down at the weekends? And what about bank staff who don't want to spend a designated 48hrs with loved ones? What about bank staff who want to work weekends because they need the money? What about bank staff who want to spend Tuesdays with loved ones?

TurnUpForTheBooks_2

Oh no - another thread with bank apologists crawling all over it.

The reason we do not have instant clearing and 24/7 banking is because the crooks have devised umpteen modern systems to exploit overnight use of OUR money only because we suckers haven't yet forced the issue. PERIOD. They make out that Faster Payments is a fantastic modern development yet Western Europe has been clearing mostly on the same day for around two decades now I think.

Bankers make me sick. I've been one and quickly found I couldn't stomach any of them at any level. They are either too greedy and self-interested or too brainwashed or too scared to speak out. Truth is lost on them daily. And they cost us dear. If you have one as a friend then you are probably a banker too or you are mistaken/gullible.

They employ rocket scientists for goodness sakes. Literally. If we can explore other galaxies by employing fantastic science then why can't we clear balances between banks same day? Think about it, PLEASE!

Moby_Tide

Wyndham wrote: »

OK, thanks I get that. But, I can get money out of an ATM on a Saturday or a Sunday, but my direct debits don't go on those dates, and my salary isn't paid if payday happens to fall on a Saturday or Sunday. In both cases, an alternative date is used, but surely that system in itself must cause extra work. Unless, of course, it's all automated after all, so Saturday and Sunday would be possible?

Please do let me know if I've missed something - I'm genuinely interested to know why these things aren't possible in this day an age?

Fre banking vs paid banking. If you had to pay for services then you could expect more say over when and how hinge might happen. ATMs are built on resilient back office systems where outages are instantly noticeable, change is high risk and downtime is a scarce commodity meaning costs are high to support.

ATMs brought in the advantage of money all day everyday, something people had lived without for many years previously but they had managed all the same. Do people really have the same reliance on seeing their wages appear on a Saturday or Sunday(when most companies just bring it forward to Fridays? Likewise do they really worry that their direct debits go later? Trying to 24x7 all systems just introduces risk and the fact that things an and will go wrong as RBS like proving. Building in natural latency/downtime reduces the costs but the limited demand to change it is even more obvious

mgdavid

callum9999 wrote: »

While I agree with you this is a non-issue, that logic is absurd. I take it you therefore think pretty much the entire country should shut down at the weekends? And what about bank staff who don't want to spend a designated 48hrs with loved ones? What about bank staff who want to work weekends because they need the money? What about bank staff who want to spend Tuesdays with loved ones?

are you being deliberately blind to the fact that the basic standard office worktime is Monday to Friday for the vast majority?

TurnUpForTheBooks_2

Moby_Tide wrote: »

Fre banking vs paid banking. If you had to pay for services then you could expect more say over when and how hinge might happen. ATMs are built on resilient back office systems where outages are instantly noticeable, change is high risk and downtime is a scarce commodity meaning costs are high to support.

ATMs brought in the advantage of money all day everyday, something people had lived without for many years previously but they had managed all the same. Do people really have the same reliance on seeing their wages appear on a Saturday or Sunday(when most companies just bring it forward to Fridays? Likewise do they really worry that their direct debits go later? Trying to 24x7 all systems just introduces risk and the fact that things an and will go wrong as RBS like proving. Building in natural latency/downtime reduces the costs but the limited demand to change it is even more obvious ... bla bla ...

Step aside Moby. Let your rocket scientists fix it for customers for a change, and not for your greedy bankster gang-leaders.

Your customers are not so stupid as to suck up feeble excuses, dishonest distractions on free versus fee-paid banking and dissembling nonsense about costs and downtime requirements. Do airliners have downtime? Do power stations have downtime? Do even supermarkets have downtime?

You insult us with your whining. You banks should suck up the costs - they are miniscule compared to your greed.

Southend1

callum9999 wrote: »

While I agree with you this is a non-issue, that logic is absurd. I take it you therefore think pretty much the entire country should shut down at the weekends? And what about bank staff who don't want to spend a designated 48hrs with loved ones? What about bank staff who want to work weekends because they need the money? What about bank staff who want to spend Tuesdays with loved ones?

I do think all non essential services should close for two (or one full plus two half) days a week to allow staff to have family time, yes. There's absolutely no reason for everything to be open 24/7.

Perhaps you could explain why this is absurd? Until recently it was the norm.

Personally, I think it's absurd that some people are so greedy and selfish that they prioritise shopping, banking etc over their friends and family.

Uxb

TurnUpForTheBooks wrote: »

Do airliners have downtime? Do power stations have downtime? Do even supermarkets have downtime?

You insult us with your whining. You banks should suck up the costs - they are miniscule compared to your greed.

You really have no idea at all do you - why don't you stop talking rubbish.

Yes airliners do have down time - a lot of it. There are compulsory annual stripdown inspections which take a lot of time(days). There are regular 'hours of time run' checks on various parts, there are very intense engine inspections and replacement of consumables, boroscope inspections of the engine interiors, and that is before we start the special inspections mandated when something 'odd' is found on one other aircraft of the same type somewhere in the world.
In fact for very complex aircraft like military fighter jets the amount of maintenance and inspection hours far outstrips the flying hours. So you get aircraft where, averaged out, 16 hours maintenance is required for every 1 hour of flying - and there are worse examples that this!

Power stations likewise, not as detailed as airlines as the turbines are not run at such a high temperature so last longer. At regular intervals a single generating set within a power station may be taken off line for a very considerable period of time while it is being subjected to a whole tranche of inspections and part replacements where the entire rotating part of the drive train is removed.

No idea about supermarkets and down time - I'm a chartered engineer not a retail expert.

callum9999

mgdavid wrote: »

are you being deliberately blind to the fact that the basic standard office worktime is Monday to Friday for the vast majority?

Vast majority? I'd love to see those statistics...

Not that I see the relevance. Why should I be penalised just because someone has dictated I shouldn't be working on a weekend for no logical reason.

Southend1 wrote: »

I do think all non essential services should close for two (or one full plus two half) days a week to allow staff to have family time, yes. There's absolutely no reason for everything to be open 24/7.

Perhaps you could explain why this is absurd? Until recently it was the norm.

Personally, I think it's absurd that some people are so greedy and selfish that they prioritise shopping, banking etc over their friends and family.

There is a brilliant reason for things to be open at the weekend - people want it to be. It is absurd because you are living in the modern world, not some kind of puritanical Victorian timewarp...

Though you appear to be so up yourself you believe people suffer if they aren't able to be in your presence for a continuous 48hr period, the real world is not like that.

What on earth are you doing sitting on an internet forum during sacred friends and family time though? You're nothing but a hypocrite. The only greedy and selfish person here is you - dictating that other people should mould their lives around your schedule. But then I'm just a heretic who doesn't live near family and spends most of my time socialising with friends on weekdays (shock horror!) so I'm sure my views on the matter are worthless.

kingstreet

I don't know if this is strictly "on topic" but won't a cheque paid in today be cleared on Friday?

If it was paid in last Friday, it'll be cleared tomorrow.

The last time I heard of cheques taking nearly two weeks to clear, they were being credited to a building society account, not a current account with a clearing bank.

YorkshireBoy

kingstreet wrote: »

I don't know if this is strictly "on topic" but won't a cheque paid in today be cleared on Friday?

If it was paid in last Friday, it'll be cleared tomorrow.

It would only 'clear' for interest earning (or interest reducing in the case of an overdrawn account) purposes tomorrow, 24/12/13.


It would 'clear' for spending next Monday, 30/12/13.


But it wouldn't 'clear' for fate until (close of business on) Thursday 2/1/14 (nearly 2 weeks after depositing!).


Google 2-4-6 cheque clearing for further info.