Bank transfer

My bank takes three banking days for the funds to become available, counting day one as the date you release the payment from your bank account.

It has been alleged that as soon as the amount leaves your bank, your bank will pool all transfers together in a high interest account of sorts from when the transfer is made on day one until the end of the second working day when the transfer is actually made. Whilst your transfer alone won't earn them much money, multiply this by the number of transfers made by customers of your bank and it becomes a significant amount indeed.

Regards, Far

Last week I needed to transfer some money from my account with HSBC in the UK to another account I hold with HSBC in the Philippines. I initiated the transfer on their internet banking service, and the funds were available for use in my overseas account about an hour later.

It seems strange that they can do that, but if the transfer was to another account in the UK it might have taken several days.

Chris

Well this is what I assume must happen - else the money *must* disappear for a couple of days when its *between* accounts. It just feels that they're being cheeky.