On Sun, 7 Aug 2005 12:07:46 +0100, Ian White
wrote:

That means the banks still get the interest, but now they bear none of
the risk either; while the customer suffers the delay in cash-flow and
now bears all of the risk. The banks shouldn't be allowed to have it
both ways.

OTOH personal customers no longer pay for cheque clearing services
and, in fact, get the convenience of using all the banking services
for free.

It's "swings and roundabouts" really,

Cheers,

John