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Old 08.01.2016, 20:28
mek mek is offline
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Bank transfer timing query

Hi,

I have a large bill going out of my CS account on Monday. Yesterday I managed to not send GBP to my currencyfair account because I fat fingered the sort code. Yeah, I know... I corrected this this afternoon after figuring out the problem, set everything to "priority" but no CHF arrived in my account today by COB. It must therefore definitely appear on Monday.

In the Uk it is your position at end of day that counts. Is that how it works in Switzerland? Can anyone make reference to actual knowledge or actual experience they have to advise me if I am about to enter a world of pain with
Swisscard?

Thanks
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Old 08.01.2016, 21:19
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Re: Bank transfer timing query

In almost any country the balance is the value and not book balance at the end of the day. And that per value date (so an amount can hit your bank account with a future value) and that would not count for the interest calculation, if there were any.

From what I understand you are writing, if the amount due only will be debited on Monday and your transfered funds arrive on Monday only you should be fine.

What can happen is that the bank will only allow the transfer if they have received the incoming funds. Depending on when the credit is, this could be an issue.

However, I do not know Swisscard (credit card?). Normally any transaction initiated today should hit your bank account in principle today with value monday, especially if you wired it as urgent
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Old 11.01.2016, 12:23
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Re: Bank transfer timing query

Currency fair txn arrived before swisscard outgoing this morning. Not sure if order was important, but will consider myself lucky, phew!
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