LETTER : Chequed out by Sainsbury's

Sir: It is not only cheques that take time to clear in this modern age (Letters, 21 July). I have recently opened an account with Sainsbury's bank.

I don't have a chequebook, but can transfer money from the Sainsbury's account to a nominated bank account. I can only transfer money to that one account, and the transfer is arranged over the telephone. In spite of this, and the fact that the transfer is a purely electronic one between the banks it still takes four working days for me to regain access to my money.

Into what limbo does it fall during this time when, apparently, neither institution is in possession of it - and neither am I?

G R A FLETCHER

Hayling Island,

Hampshire