Wheres my money.

[Gordon Bennett.]

Had a few jobs to do today so while at home decided to transfer some money from my Bank into my Building Society.

That all went ok,phoned up later this afternoon to see if it went in and was told it can take up to five days to complete.

Now i know its gone out of my Bank account so where is it, if its not in the Building Society.

Someone must have it,dont these Banks get on your nerves with all their excuses.

Anybody know where it is between banks for four or five days

How does it take so long to transfer money,thought it was supposed to be instant.

Thats my moan over.



Every morning i wake up Grumpy,she then gets up and makes me a nice cup of tea.

[Someone-Else]

Since the money doesn't actually exist, I would say the figures are sitting on computer waiting to be printed then posted from your bank to your building society.

The bank have to "take the money" instantly because it is no longer available (Because you asked to transfer it) but the building society have not been told to give you some money because they have not received a letter telling them to do so.

[wine~o]

I'll let you know where your money has gone in 5 working days......

[big-all]

some are instant
all should eventually be instant at least during normal banking hours

most i do are instant tsb- halifax same group
tsb- ing[now barclay ] sometimes days somtimes instant

[Mooncat]

When I transfer money from my current account to my building society it does not show up for 24 hours because the online account is not updated instantly. That worried me, but I was assured by phone that the money was in fact in my account, and she proved it by quoting the exact sum.

[ayjay]

Now i know its gone out of my Bank account so where is it, if its not in the Building Society.

I think that your money is still in the bank, but no longer available to you cos the bank are playing with it making more money for themselves until they have to pass it on - electronically - instantly.

[upagumtree]

The money is used on financial moneymaking schemes by the banks, they will follow the stockmarkets around the world so the money is "in play" 24 hours a day for the four or five days that it is "missing" Just think how much money is in this halfway house, it must be a substantial sum.

The same with cheques.....4-5 days to clear......really.... or 4-5 days for them to use the money before you get a go on it.

[Gordon Bennett.]

Yes of course you are all right,but it can still be a pain in the bum,i havent got it in the bank and i can't spend it cos it hasn't officially been paid in.
As a couple of you have already said its earning money for the Bank somewhere over the weekend.



Hold on, just had a message to inform me my money has been paid into someone elses account by mistake.

Someone by the name of Fred Goodwin, who ever he is. .




Nappies and Politicians need to be changed frequently,both for the same reason.

[OchAye]

As a couple of you have already said its earning money for the Bank somewhere over the weekend.

It depends as you never told us who is your money with. If your money happens to be in a Cypriot bank they may not be your money any more.

[joinerjohn]

I think they transfer the money into a "holding" account, where it sits (gaining interest) until it finally makes it's way to the other account. People transferring small amounts don't think the interest is that much, but,,, If every transfer ends up in this holding account, there could potentially be £millions in it at any one time. Imagine the interest the bank is making on this money.
FWIW, in this day and age of electronic banking, I feel all transfers should be almost instant. I can't see that any bank should hold someone's money for up to a week, before putting it in their account.