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How long should my Bacs payment take please?
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# 1
Old 13-01-2011, 11:50 AM
MoneySaving Newbie
Join Date: Jan 2011
Posts: 3
Default How long should my Bacs payment take please?

Hi there,

I was hoping someone may be able to give me some advice. I work on a freelance basis and my customer paid me by Bacs on Tuesday afternoon. It has still not cleared yet and I'm getting a bit worried as I thought it would be today. Does anybody know why it should be taking this long please? Any advice greatfully appreciated.
Kimbo28 is offline
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# 2
Old 13-01-2011, 12:02 PM
MoneySaving Convert
Join Date: Apr 2008
Posts: 69

It is normally 3 working days, including the day sent - so yes you should have it today - UNLESS the client paid oyu after their bank's cutoff for that day's payments on Tuesday, in which case it will reach your account tomorrow
Mike1901 is offline
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# 3
Old 13-01-2011, 12:06 PM
Fantastically Fervent MoneySaving Super Fan
Join Date: Oct 2004
Location: Nottingham
Posts: 2,134

Yes, altho' some of the banks are now operating faster payments for BACS transmissions, in a few cases you do still have to allow 3 complete days for clearance.

Check tomorrow (Friday) afternoon, if it isn't in your account by Monday morning, then shout.
easy is offline
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# 4
Old 13-01-2011, 12:07 PM
MoneySaving Newbie
Join Date: Jan 2011
Posts: 3

Thank you very much, I will call and find out if they met the cut off time. Much appreciated.
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# 5
Old 13-01-2011, 12:26 PM
MoneySaving Newbie
Join Date: Jan 2011
Posts: 3

Hi guys,

Just wanted to say thanks again for your help. I've just spoken to my employer and they did miss the cut off, so it should go in tomorrow. Panic over!
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