In the News - Banks
Cash transfer over the phone and internet reduced to 1 day
From today the Faster Payments Service starts. This speeds up the transfer of cash over the telephone or the internet to one day. This includes transfers of up to £10,000 and also includes standing orders. Thirteen banks have signed up to the service. These banks and their subsidiaries are listed below. The banks are offering a phased introduction, so bank customers will have to check with their bank to see when the service applies to them.
With faster payments comes increased interest earned for consumers. However a banking expert warns of increased fraud as faster payments reduces the time banks can detect fraud.
(Sources: BBC.co.uk Times Online)
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- Abbey (-3.07
) - Alliance & Leicester PLC (-1.20
) - Barclays Bank (-0.54)
- Citibank International PLC (-.--)
- Clydesdale Bank PLC (-.--)
- Co-operative Bank PLC (-.--)
- Bank Of Scotland (2.69)
- Halifax (-3.23)
- HSBC Bank PLC (0.25)
- Lloyds TSB Bank (2.06)
- Nationwide Building Society (0.33)
- NatWest (-2.19)
- Northern Bank Ltd (-.--)
- Northern Rock (1.85)
- Royal Bank Of Scotland (-1.60)
- Yorkshire Bank PLC (-.--)
- Ulster Bank Group (-.--)
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27-May-2008 09:14:03
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