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Banking Transactions

Discussion in 'General Chat' started by OneEyedStuart, May 24, 2005.

  1. OneEyedStuart

    OneEyedStuart
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    Hi people,

    this will be worth keeping an eye on....

    http://news.bbc.co.uk/1/hi/business/4575049.stm

    Its about time in the age we live in that electronic fund transfer takes less than the current 3 - 4 days.

    Should be beneficial to those on here who trade by bank transfer, however it raises the question as to how the banks think they will fund this. After all they're not going to give this up without recouping their losses elsewhere.

    KH
     
  2. Astaroth

    Astaroth
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    £25m for all UK banks is actually relatively small in comparison to the costs of the revised Consumer Credit Act etc - though it may well result in a tiny reduction in interest rates or such to cover the costs.
     

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