When does money go in to my bank, Natwest online banking?

my dad has a bank account with yorkshire bank and transactions are proccessed at 00:00.





Last friday i checked my bank account about 01:30 and had not been paid my ema, i looked again at about 08:00 the same day and had been paid.





when do transactions actually get proccessed, im still waiting for £130.00 which i was suppose to get on friday.

When does money go in to my bank, Natwest online banking?
1-2 days in the US
Reply:They usually say 5 working days
Reply:Banking has always been like this. I suspect payments are put into a reserve account by the receiving bank and is put up overnight to earn small amounts of interest for the bank.





Banks borrow from each other short term money. For the banks this is a goldmine. You make a payment on Friday, it is received by the bank within minutes and put up as overnight money until Monday for which it is paid interest. Given the millions in transit within the system it is a nice earner and doesn't cost the banks anything. The only loser is the customer who for the short term involved is hardly worth making a fuss about.





In this day of digitally immediate transfers is five days still realistic.
Reply:If it's the same bank (not branch) you would have it instantly. It can take up to 5 days (not counting Saturdays and Sundays) for cross bank transfers
Reply:EMA is new to me. However, I found some good information at www.highland.gov.uk and publications.teachernet.gov.uk. See the links below.





From a banking standpoint, I'm going to assume that UK and US rules are generally the same. There are probably plenty of minor differences, but the general workings of banks are the same no matter where you are.





The first thing I have to ask is if you really were supposed to receive EMA on Friday. There was one page I read that indicated EMA is processed fortnightly. If that is true, and if you received your EMA on February 1st, then you would not receive it again until the 15th, not the 8th.





However, assuming that you have your dates slightly mistaken and that you should have received your money on Friday the 8th (or that I misunderstood the schedule), there are any number of reasons why you may not have the money in your account right now. Unfortunately, almost all of those reasons have nothing to do with your bank. The one suggestion that the bank has the money and is using it for their own purposes I take as asinine. That would be illegal here in the States, and I have trouble imagining that the banking regulation in the UK would be less stringent than it is here. Not only would it be illegal, more to the point, wouldn't benefit the bank anyway, since every bank leverages every asset, subject to demand and government regulation. In fact, here in the US it would be impossible for them to do what was suggested. The banks are too highly regulated to get away with it. Much easier and safer just to put the money in your account, and lend out what you haven't used for that day. However, your bank could have had processing problems on Friday (rare, but not unheard of). Could Friday have been a banking holiday (just because a local branch is open doesn't mean that there is a business day for the bank)?





Banks process transactions in the same way the postal service delivers mail - when they get it done. Electronic transactions like the one you get are processed on a first come-first serve basis in large batches. I don't know if the transaction you saw in previous weeks was a soft or hard post. If it was a soft post, it will show up when someone processes that batch for inclusion in that day's business, in this case, for posting to the books for Friday's business day. If it was a hard post (I think this is more likely), then it will show up when the business day is closed out and all of the accounts are updated for Thursday's business day (even with a very fast computer, this can take a long time). This may happen at any time overnight, not just midnight. It could happen at 10:00 pm, it might not happen until very late/early in the morning.
Reply:If you bank on-line, it will tell you exactly how long. Transactions from another bank or financial source would take up to 4 days, branch to branch the same day. A debit Will show immediately and be 'ear-marked' but a credit won't show until it has been cleared...Hence the waiting period..
Reply:Nat West do not have a clearing policy any more (more more 5 days wait for money to clear.





The money will show in Nat West as soon the the other party completes the transaction. You need to look as the sending party as this is where the money is held up.