Peter,

On Fri, 3 Dec 2004 20:46:41 -0000, Peter Moreton wrote:

>...<
> Oh, and in the UK you may be suprised to learn that cheque funds actually
> clear on the SAME day that you deposit. The Bank then keeps your money and 
> earns interest on it for 3 to 5 days before the money 'clears' into your 
> account.

I think we're using different meanings of "clear" here!  I mean arriving in my account so I can spend it, and 
I think this is the usual meaning.  I'm fully aware that it left the senders account some days before - it's 
the way the banks manage to make the huge amounts of money that they do without charging the punter for every 
transaction.  Of course when they *did* charge for each transaction they *still* made it also on the interest 
during transit...

Cheers,



Howard Winter
St.Albans, England


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