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Originally Posted by SMHarman
But that should only add 2 days to the clearing process
Day 1 Principality to their clearer (e.g. Barclays)
Day 2 Barclays to BACS
Day 3 BACS
Day 4 Bacs to Barclays
Day 5 Barclays to Principality, not 7 days!
If Principality pulled their finger out and got their file to Barclays in time it could probably roll day 1 and 2 together also.
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When I worked at Natwest it was explained that the building soc's rent time from the clearing houses on a rota, i.e. they get several hours every 10 days. Why they cant be put through with all the other cheques these days I couldn't tell you!