Dave Plowman (News) wrote:
In article ,
John Anderton wrote:
There are sound reasons for the money disappearing from your account
immediately and not appearing (well at least for a day or two) in the
recipient's account. It's to do with the risk of a fraudster writing
multiple cheques when they've only got enough funds to cover one and
the time it takes to get the physical cheque from the recipient's
branch to your branch.

A letter posted first class here in London will get to Aberdeen the
next day. I can order goods from RS before 5pm and have then
delivered before noon the next day. Three clear working days after
issue is taking the p**s in this day and age. And multiple cheques
isn't an issue. It would assume everyone pays them in immediately.

IIRC the Chancellor has given the banks a date recently to get this down to
24hrs. Think it's a couple of years away to give the banks time to get their
systems ready...