to think it is unbelievable that it takes my f*cking bank 3 - 5 working days to tranfer funds WITHIN THE SAME BANK

[Gl4dys]

I'm trying to buy a new car as my old one is limping to the end of its existance and is not driveable. Anyway, found car I liked, neogitated a deal, sorted out finance with bank, signed all paperwork and then was informed it would take 3 - 5 working days to clear. WTF???? And of course I'm already being charged interest on money I cannot access!!! Why do we put up with this sh*t??

And breath....

Sorry, rant over

Who do you bank with? I am with Abbey and account to account over the internet is same day?

I think there are new banking rules coming in that will mean it has to be done more quickly. Obviously, that doesn't help you today, but it does show that we're not putting up with it!

YANBU - that sucks.

ALTINKUM - she is being charged interest but doesn't yet have the funds. Whatever the smallprint says that's taking the piss

further, I don't think we need to be grateful that banks agree to give us loans. They make lots of money from these transactions - they're not being charitable or gracious, it's a business transaction from which they make a very healthy profit.

Banks do this so that they can take the money out of your account and use it for free to lend to others and so on without paying you interest. It's a scam.

that is odd- my bank is the TSB and they do loans in the same day - while you're sitting there. if you're approved then it goes in that same day.

very odd...

do internet banking, money transfer between accounts is instant. One of my favourite hobbies actualy, moving around my money. I find it creates and illusion of having more.

That is odd, I bank with Barclays and if I get a loan it goes in the same day too.

I'm with Halifax and bizarrely transfer to my sister's account (also Halifax) was instantaneous but transfer from my savings to my current account (both Halifax) takes several days.

Makes no sense and YANBU!

my personal account is with the CO-OP, it takes this long to transfer my own money between accounts.

I think it is shocking but still haven't got round to changing

Well although the banks do make money from loans, tbh-if they didn´t give loans, where would you get it from?

I bank with Halifax, it is a Halifax loan. I do internet banking and it was an online loan offer which is why I didn't expect it to take so long once the loan was approved. Of course it is in the t&c, but I had not understood it properly and they did not make it clear. I'm not disputing that they can do it but I don't have to like it and I have made that clear to them.

Also I know I am an excellent customer - I have no other debts except my mortgage, I have never missed a repayment, and I can afford the repayments. Of course if no-one loaned then I would not be able to have a loan, but then the banks would not make any money either. I am buying a service which I am paying handsomely for. I am their customer, they are not doing me a favour.

(whispers)....I used to work for Halifax. Online apps do take longer to get the money as the application has to be checked and ID status approved. Its all to protect you from fraudsters applying in your name.

If you had done your app in a branch, and were approved, you'd have left the branch with the money in your account. The simple reason being that the application would have been keyed by the trained staff (therefore no need for checking it) , your ID verified in the branch and then the money transferred from your loan account to your bank account there and then.

Hi Lara, I don't object to the ID checking etc - that is all well and good and I understand this takes longer with online applications, but the 3 - 5 days is from them receiving back all the completed ID checks etc, not from first application. That is what I don't understand. Surely the hard part is done and the actual transfer should take that long. Unless Again is right