Monday, 18 April 2011

Don’t Bank On It!

Just a quick heads up to readers in the UK about Bank Holidays. I was listening to Moneybox over the weekend


This programme is presented by the wild and wacky Paul Lewis

paul lewis moneybox

PL is incredibly knowledgeable about money and all things fiscal, as well as Roman Numerals, Victorian coinage and Wilkie Collins. You have to read his website to find out more. He also wears crazily patterned suits and ties. Fine on radio but disastrous on TV.

HOWEVER the important information is this…

Because of Easter and the Royal Wedding, and all accompanying Bank Holidays, here in the UK, there are ONLY THREE banking days between Thursday 21st April and Tuesday 2nd May.

Paul pointed out that if your credit card bill is due for payment during that period, you would be wise to pay it as soon as you can, as all these BHs mean there may be a delay in the money getting through and you could incur interest.

I know many of you avoid Credit Cards – but if you are one of the ‘use it for the convenience, but pay in full each month’ sort of people, then I should hate you to get caught out!


What annoys me is the fact that my credit card is with my bank – and yet it takes them a couple of days to get the money from one account to the other. Where is it in the meantime? Is someone else earning interest on it?

Oh, and another little banking rant.

I think it is a crazy idea to get rid of cheques!


  1. Thanks for this Ang - am not affected cos my CC is due around 7th BUT..... I think this taking x no of days to clear must be nonsense because I pay off my balance each month online from my bank to my cc company and I only have to send it the same day it is due. No waiting days at all???? I have never understood this but have been doing it for years and never paid any interest. So if one can do it why can't they all?
    Phew, rant over!!

  2. Agree with you about cheques, totally.
    Needless to say, we wont be having any of those Bank holidays here!


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