Electronic payments/transfers

Hello,

Can anyone in this day and age tell me why, banks etc take forever to clear payments etc from/to bank accounts (usually 3 to 4 days). I thought that with all this technology it should be almost instant as it is when yuo withdraw money! I can understand it with cheques because of all the processing to be done.

Ian

I´m not sure how it works with you, but here in DK a transfer to a bankaccount takes a day. Even if its to a diff bank.

Should you wish to make a transfer to a giro account (your word for giro?) it takes 3-4 days before the payment is visiable.
Same amount of days will be if you wish to transfer to a bank in another country.

I suppose this is about your "money prob" thread?
I must say I´m getting pretty annoyed by that thread. Not because of you but because of that silly woman.
I should prob write this in the thread but since you´ve started a new one about transfering I guess its ok if I write it here?

You cant get a transcript from your bank about someone tryed to transfer money to your account and falied. But you can get it from the bank who tried to transfer them.

You can also contact the bank the womans using and find out if she ever has contacted them about this.

Get it fixed Hogget. Before we have to make another UK trip called "Getting the money back"

Ian a Bank Transfer can be anything from straight away to one day. The thing that can take 2 to 4 days is usually BACS.

The longer the transfer is in "limbo" the more interest on the money accrues to the bank !

Cynical SB

Thats true SB!!! Although in the case of a bank transfer they are paid anything from £10 - £35 to do the transfer within 24 hours.