The English bank clearing system is an international disgrace. In this electronic age, there is no reason why clearance should take more than 24 hours

Peter Cressall, La Lucila, Argentina

You've missed something out. Where is the obligatory reference to unelected Brussels bureaucrats? Credit where it's due - do you think this would have happened if it had not been for the incipient European Directive on the matter?

James, Hong Kong, China

A step in the right direction - having been faced with £30 overdraft charges and a three day delay to transfer money I almost thought I had moved to a third world country when I came to the UK.
The OFT should also target is the extortionate rates for withdrawing money from cash machine in Europe.

Jan de B., London,

The English bank clearing system is an international disgrace. In this electronic age, there is no reason why clearance should take more than 24 hours

Peter Cressall, La Lucila, Argentina

Not before time !

and how much longer are the banks going to maintain that their computers don't work on Saturdays and Sundays so that it take 8 days to achieve a 6 day clearance ?

Norwegian banks introduced 24 hour clearance fo all transactions years ago !

Steve, Leicester,

Well done, the banks! This radical change means UK banks can now achieve what has been happening in many first-world countries where banks have managed same-day transfers since, oooh, the early 1990's...

They're clawing in the lost income of overnight interest via other charges/lower saving rates.

JD, HEREFORD,

"A phased rollout will best help us to hang on to the money just that little bit longer" is what the banks really mean!!

A.Williams, Cradley Heath,

About time, too. The banking mafia has been getting away with this scam for far too long. I have often wondered what happens when an internet payment from my account vanishes into thin air and doesn't appear into the destination account until three days later.

Ken, Bexleyheath,