Lost Interest

Nobody. Because the money was sitting in a Securicor van in transit those two days it can't have been invested, working hard, and earning interest during that time. It was "on holiday", unpaid leave.

What rubbish, it does'nt work like that. This chap is wrong, the building society earn the interest.

Of course it works like that. How else does the money get from one bank to the other? In particular, note that had he turned up with his own securicor van (or just a shoulder bag and a Vespa), and withdrawn the money in cash from one branch and paid it in over the counter at the other on the same day, there would have been no gap in the interest being credited to him.

OK, I know they don't actually transport cash about, that bit was a wee joke, but the point is that there is clearly something very wrong with the system if a "push-button" transfer which ought to be instantaneous and involves no actual work, should involve loss of interest when a high-overhead method involving lots of work does not. It's a disgrace.

Put that in your pipe and smoke it.

I can't believe I'm hearing this. Now you confess that you are having a joke!

I put it to you sir, that your having more than a "wee joke" ! More like your having a wee sip of whisky. You know perfectly well that banks make interest on the money that they have at any particular moment.

Its got nothing to do with vespas, securicore vans.

I nearly fell of my trolley laughing at your poppycock . I've never heard such balderdash from a wee scotsman before.

Alliance & Leicester actually.

But, surely it wasn't, do the banks not go:

Bank A is receiving 3.6 million pounds from Bank B Bank B is receiving 3.4 million pounds from Bank A

Net result Bank B sends .2 million pounds electrionically to bank A.

In article , Ronald Raygun writes

Well it often does.

Indeed. I have on many occasions taken money out of a cashpoint, walked into the bank and paid it back in over the counter in order to effect a same-day inter-bank transfer. It's crazy but it's true. And when I ask them why I should have to do this (I've now asked this of four different banks), they all say 'that's the way it is'. So much for competition improving customer service....

KotF

Ah if only that were the case :-))))

Regretfully the largish transfer was to pay some largish bills.

I'm going to sort out my finances so my wages go in to my main account so hopefully eliminate this problem to an extent.

Geoff Lane

I've Lost Interest in this thread :O|