When will internet transactions be instant?

[Madwelsh]

Well this is a real bugbear with me, I find it ridiculous that the bank still takes 5 working days to process an internet transaction (paying a bill etc) when it is two computers 'talking' to each other and payment is instant.

Why is it when I pay a bill in cash the payment is instant, yet transferring monies to pay a bill is not? It's not as if in this day and age there's a person doing these transfers is it? I'm thinking it's more to do with the 5 days of interest that is generated. PURE BANKER GREED!!!!

I just ask how many times all you folks have been charged with a 'late payment' because the money has failed to clear by one or two days? If you ask me, it's just another way that the banks have agreed to snatch yet more money, afterall, isn't the internet age supposed to be making life easier??

I think I heard that the government is make some legisilation that all transactions over the internet should be made instant.. Currently the banks are enjoying profiteering for doing absolutely squat.

Makes me sick

/end rant

 

[Madwelsh]

Also consider that someone has to develop and maintain not only the internet banking system but also all the back office systems that support the transaction you make and take for granted - so they're not exactly doing squat.

That did occur to me, however, if the banks already have the internet capability, the infrastructure is there. (Probably paid for from other scamming ways). The people saying that banking is a business, yes it is, but I ask you now is there anyway of existing in this society without a bank? Nope.. they've monopolised the way people manage their money, I also happen to think that banks now 'trivialise' people, their own customers. It's amazing the difference in attitude towards you, when you have some cash come in. I was very fortunate to have been given a sizeable inheritance, when it came to investing it, I was given the red-carpet treatment, expresso, blah,blah,blah..

8 years ago after I left uni in the second year due to family circumstance, the same bank giving me an overdraft of £1200 wanted it back within 3 months, even though I paid half and was trying my best, they still handed the account to the debt-collectors. They are stupid, there are 3 high street banks who will NEVER get a single penny off me til I die, I also put my friends off them and shall continue to do so. Banks have become ridiculous in their attitude towards their customers, they know that everyone needs a bank account, so they can treat you with contempt. Makes me sick tbh.

Oh and PS: If you ever open a longterm savings or isa account, invest in a good quality shredder. The amount of loans and credit being offered to me on a daily basis is saddening for the amount of trees that get pulped for this dross.

 

[Madwelsh]

I dont use banks because of these very reasons.

I keep all my paper money in my Matress and have a very large collection of shiney pebbles that I swap for furs and smoked fish.

That's a fine husky-sled you got there, swop you half a Beluga for it?