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**Chris** · 21-09-2004, 11:11

Payments of this type are made using the BACS (Bankers' Automated Clearing System). This is rigged to ensure payments between banks spend several days in limbo where the banks can make money out of them instead of you. You can effect an instantaneous payment using CHAPS (Clearing House Automated Payment System), but you may have to phone your bank to arrange this rather than do it online. And, surprise, surprise, using CHAPS costs you money.

21-09-2004, 11:11	#8
Chris Trollsplatter Cable Forum Team Join Date: Jun 2003 Location: North of Watford Services: Humane elimination of all common Internet pests Posts: 38,596	Re: Online Banking Woes Payments of this type are made using the BACS (Bankers' Automated Clearing System). This is rigged to ensure payments between banks spend several days in limbo where the banks can make money out of them instead of you. You can effect an instantaneous payment using CHAPS (Clearing House Automated Payment System), but you may have to phone your bank to arrange this rather than do it online. And, surprise, surprise, using CHAPS costs you money.