New rules on payment

[jaysay]

As from the 1st May new rules come in regarding internet and telephone banking. At the moment when you, say pay your credit card bill either on line or by pone it takes 3 working days before it is payed even though it leaves your account the same day. From May 1st all the 5 major high street banks have signed up to your bills being paid on the same day without waiting. it is not yet known whether these banks will charge for the service or not. Whats the betting they do

[entwisi]

if you knew how much it cost to implement the systems that do this you would understand why. We aren't talking a few hundred K here.

[Bonnyboy]

I was under the impression that the banks were still at the “consideration” stage. Didn’t think it was “written in stone” yet.

[entwisi]

its at far more than that, Barclays are in full Live pilot of systems, I support a huge chunk of it and teh pressure to deliver it is huge