A&L charges - but I had the money!

masonic

sav4it wrote: »

Am I correct in thinking that funds also take 4 days to reach external places unlike 3 with other banks? So you would have to wait an extra day at the beginning to instigate a transaction and a day longer to reach the destination.

Well, it's more a case of either/or.

With automated transfers you do have to wait an extra day before sending the payment out, because the debit will be processed before the credit coming into the account, but these don't take an extra day to reach the destination because they are done in the early hours of the date specified. (This is something common to many banks)

With manual transfers done during the day, you don't have to wait an extra day, but the transfer isn't done until the early morning of the following day, so these do take an extra day to get to the destination because of the delay in processing them. (This is the bit where A&L take a day longer than what is normal)

In both cases it's 4 working days between receiving money into your account and getting it to another account somewhere else.

(Edit: and yes, sav4it, I forgive you for attributing the text I wrote to Milarky )