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Employer Salary payments coming in, what is the name of this bank transfer ?
Danny_G
Posts: 726 Forumite
When employers pay you, your salary once a week what is that transfer method called?
where the money is transferred from the employers account department to the employee’s bank accounts?
Is it a wire transfer? (for Uk transfers, lets say you work for boots, or comet - for example)
where the money is transferred from the employers account department to the employee’s bank accounts?
Is it a wire transfer? (for Uk transfers, lets say you work for boots, or comet - for example)
No Unapproved or Personal links in signatures please - FT3
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Comments
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When employers pay you, your salary once a week what is that transfer method called?
where the money is transferred from the employers account department to the employee’s bank accounts?
Is it a wire transfer? (for Uk transfers, lets say you work for boots, or comet - for example)
BACS or CHAPS (I think !)0 -
Usualy BACS
some may use faster payments now.0 -
"Once a week"? The sort of companies that pay via BACS usually pay their staff monthly.Who having known the diamond will concern himself with glass?
Rudyard Kipling0 -
PlutoinCapricorn wrote: »"Once a week"? The sort of companies that pay via BACS usually pay their staff monthly.
Not always. My current employer pays all hourly staff weekly by BACS that is set up and sent on the Tuesday night to be in the bank Friday for the prior weeks work.
It will most likely be BACS. Can I ask OP why they want to know?0 -
PlutoinCapricorn wrote: »"Once a week"? The sort of companies that pay via BACS usually pay their staff monthly.
How do you think weekly paid staff are paid lol , bacs is mostly fast pay nowVuja De - the feeling you'll be here later0 -
I pay using faster payments, but I only have 8 staff, so not too much hassle to do each individually.0
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