Date: Fri, 6 Jul 2007 01:09:57 +0100
Newsgroups: uk.finance
From: J L Williams 
Subject: Re: Timing of bank account transactions
Bytes: 2128

The message 
from John Boyle  contains these words:

> In message <3130303033393030468D6CE753@zetnet.co.uk>, J L Williams 
>  writes
> >I refer to the Bank's insistence that any same day transactions are
> >shown as debits first then credits after.

> Not all 'banks' do that.
> >This allows negatives to show
> >even though they in fact will not have been the case.

> No, most banks dont declare the 'balance' until the last day of the 
> day's transactions. (Unlike b/soc passbooks of course!).

Hmm, that doesn't make sense ...

> It the balance at the end of the day which counts 

That is not communicated to customers so one could live in fear of
getting a penalty fine....

but of course I am 
> aware that some pretend banks require the balance at the beginning of 
> the day to be sufficient to cover that days automated debits.

I think most automated payments may not exactly wait for the off before
paying up ... or should I say 'show on the statement' online. But then
statements are not true now are they.

I changed from a real bank to a pretend one, they are both the same in
this. I think they employed the same programmer.
jim