Quicker cash transfers
Behind the banking scenes there has been a massive overhaul taking place to make our cash transfers quicker according to the banking industry body APACs. From 27th May 2008 cash transfers over the phone or internet should take just 1 day compared to the 3 days it takes now.
APACs say the work will also reduce the standing order payments to the same timescales.
This will make it a fantastic 24 hours a day, seven days a week, instant transfer service.
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March 1st, 2008 at 2:10 pm
At last! Britain enters the 21st Century!
This has been standard in many parts of Europe for years. As I understand it, the reason it’s taken so long to sort out in the UK is that banks still insisted on shuffling paper around behind this scenes. So your online transaction, say, was really nothing like that.