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400.000 people wont be paid tomorrow-bacs glitch

snails's_pace
snails's_pace Posts: 2,121 Forumite
in Budgeting & bank accounts
just seen on news 24 that the bacs system isnt working properly and those due to be paid tomorrow friday, wont be. wondered if anyone knows more on this and which banks are effected?
Bring back mark and lard NOW! or else (please) clique member no. 10 :j

"When a woman steals your man,there is no better revenge than to let her keep him"

I maybe blonde, have many moments and have big bazookas but my brain is in gear
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Comments

  • chuckles1066
    chuckles1066 Posts: 2,670 Forumite
    snails's_pace wrote: »
    just seen on news 24 that the bacs system isnt working properly and those due to be paid tomorrow friday, wont be. wondered if anyone knows more on this and which banks are effected?

    How convenient, a Friday.

    All that money slooshing around earning the banks interest over the weekend.

    I smell something rotten..................
    You'll always miss 100% of the shots you don't take - Wayne Gretzky

    Any advice that you receive from me is worth exactly what you paid for it. Not a penny more or a penny less.
  • Richie23_2
    Richie23_2 Posts: 582 Forumite
    Just before end of the financial year aswell.. ummmm
  • mancitychick
    mancitychick Posts: 977 Forumite
    Part of the Furniture
    Thanks for the heads up. I hadn't heard anything about this until I saw your post. Just had a look on bbc online but doesn't give an indication of which banks.
  • PBA
    PBA Posts: 1,521 Forumite
    I posted this in this forum an hour ago! Snail's pace by name... :p

    It's a BACS problem, so probably won't be a particular bank involved. I'd be interested to know how many BACS payments would usually credit on the last Friday of the month, ie is this going to be the majority of payments going wrong or only a small percentage?
  • lee3276
    lee3276 Posts: 117 Forumite
    My direct debits come out on the 1st if I don't get payed I bet they whack charges on it
    Egg Loan £15000

    Debt Free 1st August 2013
  • beanielou
    beanielou Posts: 96,772 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    I am expecting two bacs payments tomorrow.
    Really hope I get at least 1!
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
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  • iceicebaby
    iceicebaby Posts: 3,633 Forumite
    Part of the Furniture Combo Breaker
    chuckles1066 wrote: »
    How convenient, a Friday.

    All that money slooshing around earning the banks interest over the weekend.

    I smell something rotten..................

    The money will not be at the banks earning them interest. What has happened is the files that transfer the money from employers to your bank accounts goes via BACS. Its bacs that the file is stuck at not your banks. The file will stay at BACS for an extra day then will be in your account a banking day late. So its not the banks that are holding your money.


    Also it will not affect specific banks, it will affect all of them. It will though however affect specific files from certain companies going to bacs. For example company A will send their wages file through to bacs who send it on to all the banks ok wheras company B will be one of the unlucky ones whos files have been delayed. Therefore all the bank who comapny B's employees bank with will be affected.


    Hope this helps

    I deal with sending bacs files from the company I work for everday and have lots of experience of the workings of bacs. If anyone wants to ask anything please do
    Baby Ice arrived 17th April 2011. Tired.com! :j
  • [Deleted User]
    [Deleted User] Posts: 7,175 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I'm due to by paid via BACS this friday, paid into my A&L account.
  • snails's_pace
    snails's_pace Posts: 2,121 Forumite
    i think i read that if dd's are due on the account then the banks will waive charges
    Bring back mark and lard NOW! or else (please) clique member no. 10 :j

    "When a woman steals your man,there is no better revenge than to let her keep him"

    I maybe blonde, have many moments and have big bazookas but my brain is in gear
  • LittleVoice
    LittleVoice Posts: 8,974 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    lee3276 wrote: »
    My direct debits come out on the 1st if I don't get payed I bet they whack charges on it

    Radio news just reported that some payments may be made on Saturday.

    Also that bank charges arising from late receipt would be repaid.
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