Employer wants me to open an account with a specific bank

boliston

Mishomeister wrote: »

.....
On the other side the money coming to the account not by bacs but by a standing order or a bill payment would look like a money with unclear origin and it would be unpedictable when they could stop receiving a standing order o a bp. So that person probably would not be able to get a credit either.....

Both standing orders and "bill payments" ARE BACS!

noh

boliston wrote: »

Both standing orders and "bill payments" ARE BACS!

Or some banks send them via faster payments.

boliston

noh wrote: »

Or some banks send them via faster payments.

But "faster payments" are still bacs.

jambosans

boliston wrote: »

But "faster payments" are still bacs.

Faster Payments is not BACS.

BACS is run by Bacs. Faster Payments is run by CHAPS Co. The only link between the two is VocaLink provide the infrastructure behind both services.

noh

boliston wrote: »

But "faster payments" are still bacs.

No.

Not really relevant to this thread but they are different systems run by different organisations.
Here is a link to BACS

Faster Payments is a service provided by CHAPS.
The infrastructure is provided and run by Vocalink

Edit:
I am slow!
jambosans answered while I was still typing!

iblametheparents

I have to have my salary paid into a Barclays account.

Billy_Bragg

fischer79 wrote: »

I have for 5 years and it was part of the contract when i signed.

p.s. think v. carefully before you accept the new t's & c's (that is if you are on the LTSB side and have a choice)

I believe that it's in both LTSB and HBoS contracts already, but like I said as an 'un-enforcable' clause, no-one from any of the Unions realised that LBG were going to try to enforce it. Plenty of real reasons why someone can't - which I suggest everyone look into rather than just pouting and saying "Shan't!"

p.s. good luck with your 'choice', which I understand to be "sign now" or "sign later". Welcome to the Collective. You shall be assimilated.:p