When I have set up a payee with BOI 365, they appeared as soon as I got off the phone.
The 3 days (3 day cycle) wait is because up to about 5 years ago the banks were not interconnected. It is now officially (if you make the payment in the morning) 2 days, but some sections in banks still think it is 3 days. Each transaction has a payment date attached, which is the day *before* the money is to hit the account. The problem is that their systems have to add a payment date to each transaction and some still default to 'Todays date' + 2, so it still takes 3 days. If they use 'Todays' date the payment 'should' work its way through the system ASAP. Payments from Banking 365 accounts to othet BOI accounts are instant.
It worked as followed:
Day 1. Input Day - You tell your bank you want to make a payment.
Day 2 Processing /Cycle Day - Your bank sends the payment to the other bank. This was done by all the banks meeting a car park in the early hours and swapping tapes.!!!! Or so I was told...
Day 3. Transactions are applied to the accounts.
Towger
It is really 'Today’s date' + 1, Transaction goes through on midnight on Day 2 for Day 3.