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Can you move money faster?

It's a definite maybe. Lloyds uses Faster Payments, which means a same day transfer; if you only want to send £10. Alliance and First Direct maybe using it, but you can't see from their online banking. And even if you can send with Faster Payments, how do you know if the account you're sending to can receive it? Actually, that's the only easy bit - check it at http://www.apacs.org.uk/sortcodechecker/. But in most cases, for another few months, the banks are still eating your interest and stealing your money for three days when it should be 3 seconds (that's how long a fraud check at a credit card terminal takes, after all - and all the rest is hand waving).

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( 5 comments — Leave a comment )
dougs
2nd Jul, 2008 16:11 (UTC)
Email from me to Client L, yesterday at around 15:18...
    I’m catching up on my invoices, so this is the one from the last visit. [20080605.PDF]

Email from Client L to me, yesterday at around 16:13...
    Thanks for all your help. I will pay today.
... and today, my online banking shows the payment having arrived yesterday. I'm with Halifax, don't know who Client L is with. But that's a very pleasing result, and I'll be more pleased still when it starts happening elsewhere.

By contrast, last month I paid my hosting supplier (due on the 8th) on Thursday 5th, and they didn't get it until Tuesday 10th. Fortunately they're relatively patient.
marypcb
2nd Jul, 2008 20:13 (UTC)
the miracle there is someone who pays invoices the day they say they will!
ramtops
2nd Jul, 2008 16:27 (UTC)
I looked it up, and our bank claims to be both sending and receiving. Wonder if it really is ...
(Deleted comment)
marypcb
2nd Jul, 2008 20:12 (UTC)
how *atomic* of you dear....
(Deleted comment)
marypcb
3rd Jul, 2008 13:13 (UTC)
doing it all on screen treats the money as bits; taking cash in hand and pressing flesh treats it as atoms. next I'll say something awful like clicks and mortar...
( 5 comments — Leave a comment )

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full steam ahead
marypcb
Mary Branscombe
Simon & Mary

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