I often wonder why it takes so long to transfer money between bank accounts and why I can transfer it between two accounts with the same bank instantly but to transfer to an account with a different bank it takes a minimum of four days. Now it appears that there is a new system that will allow same day bank transfers. Customers will be able to make one off payments up to a maximum of of £10,000 that will leave their account and arrive at the destination on the same day. Among the banks that will be included in the scheme are Abbey, Alliance and Leicester, Barclays, Citi, Clydesdale and Yorkshire Banks (National Australia Group), Co-operative Bank, HBOS, HSBC, Lloyds TSB, Nationwide Building Society, Northern Bank (Danske Bank), Northern Rock, and Royal Bank of Scotland Group (including NatWest and Ulster Bank).
