Bacs payments.

[Kathyan]

My husbands wages are paid into the bank by bacs on the last day of the month. This month the last day is on a Tuesday, but the Monday is a Bank Holiday. Does anyone know if the money will go in on the Saturday or will it be Tuesday?

[WELSHYORKIE]

We pay on the 28th of the month and if that falls on a weekend it goes in the day before. However, as your husband is paid on the last day it would go into his account on the tuesday - unless the employer puts it in early.

[TonyV]

Kath - depends on company - but normally is paid in before - so wages should be in the bank by end of trading on Friday

[4candles]

I've always been paid, by BACS, on the last working day of the month, and it's always been the Tuesday in the circumstances you describe.

My current annual payment schedule states that my next payment will be on 31 May.

[TonyV]

To correct my answer somewhat - just checked calander 31st is a Tuesday - a normal working day

[Kathyan]

Thanks all. Looks like I will have to tighten the belt for a few more days then!

[Catapa]

They have to transfer it in time to arrive on Tuesday. Many employers will send it one day earlier to arrive on Friday, as otherwise the bank will keep all the funds over a long weekend.

Yes, it is a long month :-(

[craft1948]

Er many employers will not send it early as that means it leaving their bank accounts early!

[Skyline D]

Don't really see why it wouldn't be the Tuesday?

I'm maybe missing something here but surely it's the same principle as any month end that falls on a Monday. That too has a non-bank working day the day before but presumably the wages are paid on the Monday anyway. Had the monday itself been the month end then it would surely be the Friday but as it isn't it will be Tuesday.

[boxtops]

It'll be the Tuesday, it's a normal banking day.

[craft1948]

If my month end was a Monday I got paid on a Monday..............it's all done electronically so it's not as if someone had to physically be there. You get paid on a Friday if the month end is Saturday or Sunday so that the banks are open to let you withdraw cash.

[Ellipsis]

Is it paid on the last day, or guaranteed to be there on the last day?

If it's guaranteed to be there on the last day then you may find it's there a bit earlier.

If you look at April's statement, the last working day was Friday 29 April. Were the wages paid in before that day? If so, then it's likely he'll be paid before the Bank Holiday this month...

[Kathyan]

I'm not sure about the guarantee. I know if the last day is on Saturday or Sunday, the money is usually in on the Friday and if the last day is Monday and it's a Bank holiday, the money goes in on a Saturday. But with the last day being on a Tuesday after a Bank holiday I can't remember if it goes in on the Tuesday or before! Thanks for all your answers. I will just have to wait and see!

[Kathyan]

It's gone in today! Yayyyy!!

[TonyV]

that's how it can work - because next Monday will not be banking day

[TonyV]

you spent it yet? Kath if not enjoy

[Kathyan]

Shops aren't open yet! Will be going out later though! More food shoppng than anything else though!