Banks finally agree to do overnight transfers - papers 5th April

An official announcement is apparently being delayed by the general election on May 5 as the OFT would not want to issue statements with political connotations before voters go to the polls. But industry sources told the Guardian the banks were committed to processing automated payments overnight, rather than the three days it now takes to move the money electronically. Chairmen of the "big six" banks - Barclays, HSBC, Royal Bank of Scotland/NatWest, Lloyds TSB, HBOS and Abbey - were asked to take action and a spokesman for APACS says “whereas a year ago it was whether [it would be do...