Unbeknownest to many in Hong Kong….

If you have 2 bank accounts in the same bank (Account A and account B) and you write a cheque (withdrawing from Account A) to your other account (receiving at Account B)  and have deposit it with your bank on Friday. On Saturday and Sunday - the funds will not be available in Account A and yet it would not be available in Account B. Apparently the funds are sent to a centralised banking facility that keeps the funds whilst it’s being transferred… This doesn’t seem logical and what happens to the interest during these two days?

This entry was posted on Monday, March 2nd, 2009 at 12:55 pm and is filed under Business in Hong Kong, Gripes, Warnings. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.