Summary
HBOS said yesterday it had cut cheque clearing times from three days to two, and within Scotland from two days to one, in its revamp of current accounts.
However, it said cheques paid into its savings accounts and basic bank accounts would take two days longer to clear after being deposited, and there would be no change in electronic money transfer times.See the full content of this document
Extract
Hbos Cuts Cheque Clearing Times
On Wednesday, Mervyn King,the governor of the Bank of England, put the issue of cheque and electronic payment processing ba...
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