Microsoft Money (2002) - Banking delays?

Paul_Herring

Been using MS Money quite happily for the past few years, and have no real interest in upgrading from 2002, but something that's been niggling me for a while now...

Is there an easy way to introduce the 3-5 day delay inherent in most inter-institutional transfers?

For example transferring money from Icesave to LTSB takes 3 days, but raising a transfer in MSM treats the transaction as instantaneous.

I suppose I could create a virtual account of 'interbank transfers' then create two transactions (one to the virtual account on Monday, and one out on the Thursday e.g.,) but that's far more bother than I'm willing to undertake.

Is there some setting/option I'm missing?

Pagan98

I don't think Money has any way to automate the delay in the BACS payment cycle (or the cheque clearing cycle). However, APACS has announced that the new system to provide same day transfers will be implemented at the end of May 2008 - see here: http://www.apacs.org.uk/payments_industry/new_technology1.html and here: http://www.apacs.org.uk/media_centre/press/08_14_07.html
HTH!

Paul_Herring

Thanks for that. Was just wondering if I was missing something

Stephen_Leak

I use Money 2005 and it also does transfers from one account to another instantly. I just use the date that I do the transfer on, and balance the accounts when the banks involved catch up with me.