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What Time Does The Banks Systems Update

edited 21 October 2010 at 9:48PM in Budgeting & Bank Accounts
27 replies 252.3K views


  • MikeyorksMikeyorks Forumite
    10.4K posts
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    NinaS wrote: »
    but I am there only employee and so they are not sure whether I will get it on saturday or monday.

    Most salaries are paid via BACS Direct Credit - almost inevitable they will credit on the preceding working day if the employer has a target date that hits a weekend. As BACS directly control the end to end process.

    But if you're the sole employee .... likely it's a DIY job from your employer and direct to your account from theirs? So if they just initiate the BACS say 3 days prior the 24th? Then it could well be the 26th before you see it this month? I would have a word and ask them to initiate the credit with due regard to weekends / Bank holidays.
    If you want to test the depth of the water .........don't use both feet !
  • halifax tends to update at 2am in my experience
    barclays 12am-2am typically in my experience
  • I am with Halifax and my account updates at 3.30am
  • jamespirjamespir Forumite
    21.5K posts
    barclays usally updates about 1215 am
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  • SystemSystem Forumite
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    Very True :)

    I know when I start a new job or change bank details etc, I like to check that the 1st credit has gone in ok. I found NatWest/RBS were the best for showing up credits.
    stclair wrote: »
    Youll be surprise actually at the amount of people that ask the question. :D
  • BosieBosie Forumite
    1.2K posts
    When my main bank was with Yorkshire Bank I would have Carer's allowance due on a Monday, but if I logged on just before midnight on the Friday it was in.
  • simax wrote: »
    Also, on Santander, BACS credits due on a Monday get credited at approx 4pm on the day before.

    Is this true?
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  • bengal-stripebengal-stripe Forumite
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    simax wrote: »
    Also, on Santander, BACS credits due on a Monday get credited at approx 4pm on the day before.
    RobEssex wrote: »
    Is this true?

    I don't think this is the case any longer.

    A few years ago, Santander (or Abbey) used to update the Monday transactions on Sunday between 3 and 4 pm. But that got shifted further back and now takes place between 10 and 11 pm on Sunday.

    I am expecting a regular payment on Mondays, when I log-in at 11 pm it has (virtually) always been credited by then.
  • I don't think there is a set time these days. I know I am often online when Nationwide figures update and the times are not set in stone. Neither is there a pattern I can ascertain.

    I guess technology allows them to process things faster but I have noticed that some items such as child benefit can actually come in on a Sunday afternoon !
  • DollardogDollardog Forumite
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    withabix wrote: »
    Why on earth does the time of day (night) that the banks update their systems matter?

    Their hours, days, weeks and months are all the same length, so you will still spend the money.

    It can actually make quite a difference if you have direct debits coming out of the account the same day that money is going in.
    I have had my direct debits taken out, or the attempt made to take them out, before my BACS payments went in, when there wasn't enough in to cover them without the BACS payment.
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