Bank accounts

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#76 Feb 17th, 2009, 02:56
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#76
Quote:
Originally Posted by Nick-H View Post Same country.
You sure?

Quote:
Would international banking procedures differ from city to city?
WHAT??!! Indian laws differ in their application from state to state!

Procedures - no, but follow-up speed I can understand. I cannot imagine Canara bank in Delhi taking 5 weeks, specially when it was already 3 weeks 5 years ago.
#77 Feb 17th, 2009, 03:08
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#77
Did you know that, despite (obviously) having been computerised for decades, the British bank system actually increased the time taken to clear a cheque from three to five working days. They even stubbornly held on to this delay for on-line banking transactions! I have been using my British bank's internet bankung system for years now (I forget how many) and only recently did I see a notice that I could now expect online payments to reach the payee's account on the same day. Astonishing.

When I started banking here, I was surprised at how relatively quickly rupee-cheque payments are handled.
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#78 Feb 17th, 2009, 03:21
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When I started banking here, I was surprised at how relatively quickly rupee-cheque payments are handled.
That's right, and recently I was shocked to discover (just a few weeks ago) that cheques deposited on any day are now being credited same day! It still takes a day or two more for the bank to get the money from the other bank, so it stays in that "available balance/clear balance" twilight zone, but I suppose customers gain as far as interest calculation goes, among other things.


P.S. This is certainly the case Delhi/NCR-wide for all banks, I don't know if it's all over as yet.
#79 Feb 17th, 2009, 03:55
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#79
It's a nasty shock if something goes wrong and you want to stop a cheque. I know someone who was very lucky that public holidays got in the way, allowing them to stop payment on a cheque to a property broker who turned out dodgy.
#80 Feb 17th, 2009, 04:08
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Right, never thought of that!
#81 Feb 17th, 2009, 11:52
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#81
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Originally Posted by yeayea420 View Post
no offense to indians (considering I am one), but it seems in india, bus chakar lagate raho or jutey khatey raho.

Mod Note

English please yeayea.
sorry, didnt know couldn't do that, here is the translation: keep going in circles and getting hit by shoes.
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