getting wages paid to account of companies choice???

NickkieAz

hi all,

i currently work for a bank and as such have to have my wage paid into that bank's 'staff' account. am having a few problems with this account and how members of 'staff' are actually treated.

over a barrel in a sense!

can the company enforce this rule or is there a way i can get them to pay me by cheque or into another account???

thanks.

alanq

If it's in your employment Ts&Cs that you will be paid via a staff account I don't suppose you have any option. Could you not just immediately move the funds out each month to another bank via Faster Payments?

NFH

This is more a question of employment law than bank accounts. Can't you just transfer the money each month to your other account?

This is quite common for bank employees, but I've seen more extreme rules in other countries. For example, when I was working at a Swiss bank in Switzerland, employees were not allowed to have an account with any other Swiss bank, although many employees did so. Despite Swiss banking secrecy being so strong (particularly back then), this was not true for employees. I remember one guy who went out and bought loads of furniture one weekend for his flat. When he went into work on Monday, HR phoned him up and asked him why he was spending so much money.

agrinnall

As it's a condition of your employment I would imagine that if you refused to have an account with the bank they would consider a breach of contract and sack you. What problems are you having? When I worked for a bank I just did as the others have suggested, transferred the bulk of my wages elsewhere as soon as it arrived.

stclair

NickkieAz wrote: »

hi all,

i currently work for a bank and as such have to have my wage paid into that bank's 'staff' account. am having a few problems with this account and how members of 'staff' are actually treated.

over a barrel in a sense!

can the company enforce this rule or is there a way i can get them to pay me by cheque or into another account???

thanks.

When you say problems what do you mean?

I have my wages paid into my Natwest account however it gets transferred out the next day into my HSBC account.

mattcanary

Silly rule. Surely the company must know that plenty of people transfer their wages straight away or the nex day away from the bank into another bank account.

I hate unnecessary bureaucracy

opinions4u

NickkieAz wrote: »

can the company enforce this rule

The simple answer is yes, they can enforce it.

MoneySaverLog

Most banks insist that staff wages are paid into their accounts. The explanation at the time when I worked for a bank was that it could not be seen that an employee would bank with a competitor. How would that look to a customer?

The fact that you could move it out afterwards was neither here nor there.

stclair

I remember this being covered in the media in relation to the RBSG

http://news.bbc.co.uk/1/hi/6482979.stm

wildheart83

When I worked in the bank they said they preferred you to open a bank account with them, but couldn't force you. It just meant you got paid a day later if it was going to another bank.

stclair

wildheart83 wrote: »

When I worked in the bank they said they preferred you to open a bank account with them, but couldn't force you. It just meant you got paid a day later if it was going to another bank.

Yeah my ex houseused to work for Santander and that used to happen to him. However with the new payment regs I can imagine everyone gets paid on the same day now regardless off which account the salary is being paid into.