Author Topic: Faster Bank Transfers - A Positive Move?  (Read 329 times)

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Offline Oracle

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Faster Bank Transfers - A Positive Move?
« on: May 27, 2008, 16:40:37 PM »
So 13 major banks have made fund transfers between them much quicker for internet and phone banking customers.

In the past there could have been as much as a four day delay between the money coming out of your account and it being deposited in the receiving account.  In this time the bank would invest this money and make X% interest for their own pocket.

Does this mean that there could be grounds for attempts to claim at least some of these profits back?  Or are we, as customers agreeing to this use of our money in this way by banking with them and so forfeit that right?  HYS


Referenced from:

Fast Transfers on BBC.co.uk
<a href="http://www.guardian.co.uk/money/2008/may/27/banks.currentaccounts?gusrc=rss&feed=business>Q7A on this topic on Guardian.co.uk[/url]
Similar debate on DigitalSpy.co.uk
Coverage on IMC.ac.uk
~Oracle~


 

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