Annuity Nightmare, Daymare, Round-The-Clockmare
Jan 7th 2019, 1:17 am
#31
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Joined: Nov 2007
Posts: 906
Re: Annuity Nightmare, Daymare, Round-The-Clockmare
If a bank is not a Clearing Bank, it can have its own sort code but it will use a Clearing Bank to 'finagle' its clearing.
Last edited by cranston; Jan 7th 2019 at 1:22 am.
Jan 7th 2019, 1:24 am
#32
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Joined: Nov 2007
Posts: 906
Re: Annuity Nightmare, Daymare, Round-The-Clockmare
Jan 7th 2019, 1:50 am
#33
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: Annuity Nightmare, Daymare, Round-The-Clockmare
That's not what I said, and in any case is misleading/ will lead to further confusion.
You don't "finagle" clearing - it is what it is, and if you aren't a clearing bank you need a clearing bank to process your cheques for you. My use of "finagle" was to reflect the fact that only banks and building societies have sort codes, and TW is not a bank (or a BS).
In short your second attempt was closer to being correct, compared to your earlier one which was gibberish, but it still sounds just like you have been and mugged up using the Wikipedia entry for British cheque processing.
….. but only 11 banks are Clearing Banks and members of the Cheque and Credit Clearing Company. 'Clearing Bank' has a specific legal meaning in the UK.
If a bank is not a Clearing Bank, it can have its own sort code but it will use a Clearing Bank to 'finagle' its clearing.
If a bank is not a Clearing Bank, it can have its own sort code but it will use a Clearing Bank to 'finagle' its clearing.
In short your second attempt was closer to being correct, compared to your earlier one which was gibberish, but it still sounds just like you have been and mugged up using the Wikipedia entry for British cheque processing.
Last edited by Pulaski; Jan 7th 2019 at 1:53 am.
