Is this right?

[Snappy]

My pay date is the 15th of the month but it only goes in to my account two sometimes three days after this. My boss pays the wages from her account (its her business) to ours by cheque. My mam says it should be in on the date it says on my payslip. Is this right?

[g_maca]

well i used to get paid on the 15th and it was in there every time bang on the 15th but if the 15th fell on a sat/sun it would always go in on the fri hassle your boss me thinks

[MORELLO]

Just prior to the 15th of each month, your boss's account is swelling with profits which she hasn't yet paid out as wages. From this, she is accruing interest for herself. The longer she can leave her account swollen, the more interest she will make. By stalling on payment each month, and by paying you with a cheque which will take 4-5 days to clear, she is keeping the maximum amount of money, for the maximum amount of time, in her account. In other words she is making money of your, and your fellow employees, wages. Money, that if equally split into your accounts may seem insignificant, but which added together in hers month after month, may be of significance. Ask her for direct payment and watch her back out of it with a typical boss like response that she hopes will be over your head.

[Octavius]

If your pay day is the 15th then that is the day you should receive your money (or the Friday before if it falls on a weekend).  Your boss should be making arrangements to ensure that the money is with you/in your account on/by the 15th

[Bonzo 2000]

As a caring and compassionate boss, i think MORELLO is being just a wee bit sceptical.  However, if you are due to be paid on the 15th of the month, you should have cleared funds in your account by that time.  It shouldnt be your problem to wait for a cheque to clear.  The real winners in this situation are likely to be your bosses bank, as the funds will leave her account before they appear in yours.  You could ask your boss to arrange a BACS payment. This means that the funds would be transferred electronically to your account.  Its a system we use in our firm.  For the boss (me) its simple - the bulk of the work lies in calculating tax and National Insurance.  The actual process of having the funds transferred tpo each employees account is easy, and actually cheaper in bank charges than the processing of individual cheques.  Its also good for the staff - the money appears in their account on the day its meant to be there, without the hassle of banking a cheque and waiting for it to clear.

[maurizio]

I had a similar boss, I told her to f.... o.., making ex amount of money in interests out of her staff wages, and I had to pay over the top interests rates for going over the arranged overdraft because I would always get paid late. She wouldn't arrange a direct payment in the bank, she said it was too expensive. Beware.

[Closer]

I may be missing the point here, but she's not making money out of staff wages, she's getting interest on her money from which she pays the wages. I agree that the wages should hit the employee account on the day, but to suggest that the boss does it to make interest is a little cynical.

[stevie21]

Exactly how much interest do people here think that you can earn on a business account for 2 or 3 days?
From memory, business accounts generally pay crappy rates of interest.

If you're paid �2000 each month (well done if you are!!) and your boss' account pays him/her 4% (VERY unlikely!) then delaying your wage by 3 days gets him/her a massive 66p each month. These figures may be inflated (especially the interest rate) even before we realise that they're before tax. (take another 20% off)
66p before tax each month. I'd say that's well worth the effort of delaying wages and having an unhappy workforce. Well spotted everyone - it's all just a big corporate conspiracy to cheat you out of your wages. The banks are in on it too.

p.s. see here for the BEST interest rates for business accounts. These are before tax:
http://tinyurl.com/63hv5

[AllYourBase]

Once she has written the cheque, the money comes out of her account fairly quickly. It is the bank that is making money from the interest during this interim period, not your boss. Why not suggest that your boss uses BACS, or subcontrctin payroll. Bear in mind that the easiest option overall is for your boss to (quite easily and legally) just change your pay date to read something like the 17th, or 18th on the payslip, as long as the pay was correct for any adjusted period, this is a reasonable change for him/her to make.