Money clearance

[JayKaybi]

Question -

I was wired a sum of money (<£1000) on Wednesday evening, directly to my Nationwide acount, but it hadn't cleared by the end of yesterday. Given that it's now silly bugger weekend, when's the earliest I can hope to see it in my account?

Edited by JayKaybi on Friday 10th April 10:14

[G_T]

If memory serves;

BACS transfer = 3-5 Working days (Unless same bank)
CHAPS transfter = Same day if before early afternoon (Fee usually charged).

Not a banker so I could be wrong!

[kong]

Put your sortcode into this http://www.apacs.org.uk/sortcodechecker/index.html

if it says you accept faster payments then start worrying, but otherwise, it will probably appear tuesday

[JayKaybi]

That's what I expected and feared tbh, just wondered if (as it was wired Wednesday evening) wether the electronic systems were in motion and there could be a chance of seeing it today.

Bugger. Oh well.

[Oakey]

JayKaybi said:

That's what I expected and feared tbh, just wondered if (as it was wired Wednesday evening) wether the electronic systems were in motion and there could be a chance of seeing it today.

Bugger. Oh well.

Don't be silly, any excuse for them to hold on to your money just a little longer.

[G_T]

Oakey said:

JayKaybi said:

That's what I expected and feared tbh, just wondered if (as it was wired Wednesday evening) wether the electronic systems were in motion and there could be a chance of seeing it today.

Bugger. Oh well.

Don't be silly, any excuse for them to hold on to your money just a little longer.

That's true.

I rememeber reading some report saying that it is actually possible to make almost all transactions almost instant but the banks would lose huge amounts of money they make in interest for holding it those few days.

They really are aholes aren't they?

[Tahiti]

G T - I'm not a banker, but if my memory serves me right, "faster payments" are now common place for Natwest/RBS for example. I assume that other major banks are doing the same.

[G_T]

Could well be mate. I haven't worked in a bank for a very long time and even then it was only a summer job.