On Mon, 15 Jun 2009 00:03:05 +0100,
wrote:

Hi - I have sent a payment from Nationwide to a small building society by
Nationwide's one-off transfer (standard, no charge). I know the clearing
process of electronic funds has changed recently and so am not quite sure of
what happens in the following...

If I have sent the funds this evening (Sunday night) and with it displaying
as having left my account already with Monday's date on it, what is the
earliest that the payee would receive the cleared funds? Nationwide says
something like "should reach" the payee within 2-3 working days, but if it
leaves tomorrow (Monday) and gets there tomorrow, will it still take at
least 2 working days to clear? Sorry to be a bit techy, but I just want to
make sure it doesn't clear before Tuesday...

Surely the concept of "clearing" is only really applicable for
payments by cheque?

In the case of a bank transfer, your account will have been debited as
soon as you requested the payment to be made. Once it hits the
recipients account, the funds should be available to them immediately.

Chris