Days to clear a cheque between one account to another in the same bank?

OK, so they're so unfashionable they are being withdrawn by 2018. But still, cheques are part and parcel of a lot of banking.

Today, I have a cheque drawn on one account held by Barclays, and my account held with Barclays. They need a minimum of three days to transfer (this comes with a fee) or "obviously, the normal five days".

Normal.

Five days.

How do they do it? Are there donkeys moving the relevant data within the same organisation from place to place?

It's simply a scam. They know the money is there, and they make money on holding it up in their system.

Another example of banks being run for their own convenience - and profit - and not ours.

over 2 years ago via web