BACS receipt cut off time

before sending on funds. A friendly word with your account manager should be enough to clarify matters.You don't quote what the substantial amount is but your actions are similar to that of money laundering ie an account with normal small balance suddenly credited with a large sum and immediately transferred out again. I am in no way suggesting that you are money laundering only that it looks to me that Nat West are taking the prudent approach in making checks first. Just another point could you not have made the transfer direct from your savings account to the intended beneficiary? (or is this not allowed?) Eric

This isn't at all unusual. I've had the same experience with other banks.

Jon

I had to try to contain my laughter there, I suppose if that is what the reporting policy say then that is what they have to do, I know if auditors or solicitors report things that they pick up to NCIS then they can't do things like sign off accounts or complete conveyances until it is cleared by NCIS and just have to delay to the client.

Lets just say enough to you could probably buy a reasonable 2 up 2 down house in somewhere like stoke on trent.

No its one those helpful accounts where you can only pay money in and out by a direct debit to the specified linked current account.

It could look a little suspicious but a) its the way the savings bank operates its accounts which wouldn't be difficult to verify and b) there is the corresponding direct debit on the current account with the same payment reference to pay money into the savings account.

It is irritating that it was a Friday that it was credited as opposed to any other day as it means it earns no interest for another couple of days (tell a lie it should be earning interest at the market leading rate of 0.1% which is hardly much better)

With that amount I would definitely be expecting them to do some checking.

Marcus