[entwisi]

<Warning> The following may be seen as an advertisement by those of small mind <Warning>

Paper money ( i.e. cheques still go through teh same process that they always have. i.e. its all postal/physical transfer rather than electronic.

Now SOME Banks ( I shall let you guess who! ) pay you interest on the value from teh day you deposit it and also to draw against it from Day 1 ( You obviously take the risk of it bouncing and teh funds being withdrawn but hey what do you expect) .

The whole Payments Systems between Banks are mega complex and transfer immense amounts of money every single Day. I should know I look after a lot of them!

To be honest, the cheque system is one that is dying on its feet and all Banks would like to see teh back of them as it costs a massive amount more to process a cheque over an electronic transfer.

The final thing I will repeat from previous posts is that here in teh UK you are actually very lucky. If you stay in credit your everyday banking is free whichit isn't in a lot of other 1st world countries. you have access to a very expensive to install and maintain ATM network and the bank with standing orders Direct Debits etc allow you to automate a lot of the admin of running your finances that in the 'good old days' you had to do yourself. Just take a look at how many payments you make out of your account on a monthly basis and then times that by about 10 mins each for the time you would have been stood ina Q somewhere to pay in the old fashioned method.

Your Banks to most people offer a very very good deal.