Say you switch cash funds from one account to another, both accounts are with the same bank. It usually takes a few days.
Why is this?
Do the funds go into a bank holding or suspense account which earns the bank interest which they keep?
I have always suspected, can anyone confirm?
I know that cheques and funds can be cleared instantly for a fee or as a favour by a bank worker.
Why is this?
Do the funds go into a bank holding or suspense account which earns the bank interest which they keep?
I have always suspected, can anyone confirm?
I know that cheques and funds can be cleared instantly for a fee or as a favour by a bank worker.