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take three days to clear cheques
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Three Days - If only !!
"Now it's SIX days to clear Halifax cheques. The interest they earn adds to the £60m 'scam' on customers by banks. One of Britain's biggest banking groups is extending its cheque clearance time by two days. Many customers at Halifax Bank of Scotland - HBOS - will now have to wait six working days to access their money. The change will take place on July 26 and will affect Halifax's Card Cash Account and the Bank of Scotland's Easycash Account, both basic banking accounts. IBAS chief executive slammed the move last night. 'This is prehistoric and obscene,' he said. 'They are being remarkably stupid going against what even the governor of the Bank of England is saying. It makes no sense going backwards. It is greedy and can only be for their benefit, not the customers. There can be no other reason than they need to make a bit more money.' In Sweden, Belgium, Holland and Spain cheques are cleared on the same day. In France and Germany, they take a day to clear. - Daily Mail 13/07/2004"
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