Well nearly, from next week you will be able to tranfer money between bank accounts using a new system. Transfers will be nearly live taking up to two hours, which is a massive improvement over the two to three days that it currently takes. According to the OFT the banks made £30 million pounds per year from interest payments on our money while it was in transit. However, the building societies have not yet agreed to use the system and prefer to cash in on their customers’ transfers.