Quote:
Originally Posted by derekgas
Maybe they could start to concentrate on the cheque system now, whenever we receive or pay out cheques, they can take 2 days or 5 days to clear, there doesnt seem to be a standard for a particular bank, they seem to just make it up as they go along.
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unfortunately cheques are subject to the piece of paper being presented at the drawn bank so you are at mercy of the movemnt of a physical resource rather than just firing 1's and 0's down a super fast data line.
Some Banks ( Barclays is one) will allow you to draw against a cheque up to £1K from the moment you deposit it. Obviously if it bounces they will remove the funds so be sure you trust the person who gave it you if you use this.