Immediate access to wages

whitewing

I'm sure it would be far more efficient for them to pay electronically with that number of staff (even if wage amounts vary).

Maybe she could ask nicely and explain that there is a delay in her accessing the wages otherwise. People don't tend to change unless they need to.

olly300

amersall wrote: »

i think its terrible you have to wait for a cheque to clear when you have worked for it, i am paid monthly by bacs but it angers me knowing companys are sat on your money you have earnt, for a whole month, just think of the money they get on interest for every employees pay

Rubbish.

Employers are businesses. They have cash flows and budgets.

Some employers, particularly now, have to use bank loans and overdrafts to ensure they can pay their employees on time due to cash flow difficulties caused by customers not paying on time. This means they are paying interest not receiving it on staff wages.

masonic

amersall wrote: »

i think its terrible you have to wait for a cheque to clear when you have worked for it, i am paid monthly by bacs but it angers me knowing companys are sat on your money you have earnt, for a whole month, just think of the money they get on interest for every employees pay

So you think you should be paid daily? Or in advance?

Extant

Innocent_Guy wrote: »

I have Instant cashing on ALL cheques with Barclays

No, you have an Account Uncleared Limit, so you can access the first £1000 of any cheque deposited (or £2000 for selected Premier customers).

Not ALL cheques.

Extant

amersall wrote: »

i think its terrible you have to wait for a cheque to clear when you have worked for it, i am paid monthly by bacs but it angers me knowing companys are sat on your money you have earnt, for a whole month, just think of the money they get on interest for every employees pay

It's typically a term of employment that you're paid per month. If you were contracted and got paid daily, what's to stop you from not turning up one day? You'd have been paid for the last day, so why would you care?

I get paid three weeks in arrears, one in advance - should I pay back interest to my employer for the week I have the money in advance?

opinions4u

BarclaysManager wrote: »

I get paid three weeks in arrears, one in advance - should I pay back interest to my employer for the week I have the money in advance?

I'm sure at some point in time it was factored in to the total remuneration package!

:rotfl:

leachyd

This won't be a problem after Wednesday anyway, as the cheques will be clearing at regular intervals, just as an electronic payment would clear at regular intervals. Waiting for the first one to clear is a pain, but when she gets in the cycle of being paid it makes no difference (aside from bill payment dates) as to whether she is paid on the 7th of every month or the 1st of every month.

bandraoi

With my bank, if the cheque is from the same bank and branch as the account is held in, then it clears more quickly.

willo65

ShelfStacker wrote: »

Unless she had a specific letter of authority from the company to cash that cheque, signed by one of the signatories on the account, that would be a no-no. Even with that letter, there might be some suspicion.

Some companies have that arrangement set up and formalised with the bank, as bengal-stripe sort-of mentions. But it's rare.

With Natwest you can write a cheque out enabling the recipient to cash it with no problems, she would need to provide ID and if it's a large amount then the customer may get a call just to confirm but you can do it.