Problems with Co-op Basic account

BlushingRose

Hi,

We're not sure what to do as the basic account that Mr BR opened when we started the DMP is causing us problems.
Basically, if he is paid on a Saturday, like this month, we cannot access any money until the Monday.
Does anyone else have this issue?
Is causes us issues as the monthly budget is so tight that on months when this happens, it causes us to run out on money.
I realise it will be us budgeting wrongly or something but are all basic accounts like this? Perhaps we should switch?

Growurown

BlushingRose wrote: »

Hi,

We're not sure what to do as the basic account that Mr BR opened when we started the DMP is causing us problems.
Basically, if he is paid on a Saturday, like this month, we cannot access any money until the Monday.
Does anyone else have this issue?
Is causes us issues as the monthly budget is so tight that on months when this happens, it causes us to run out on money.
I realise it will be us budgeting wrongly or something but are all basic accounts like this? Perhaps we should switch?

Hello BR - hope you're well. My guess would be that if the money is paid on the weekend it isn't processed until Monday. I've never come across this before. If mine or OH's salary date falls on the weekend it is always paid on the Friday before. This could be a real pain if it happens on a Bank Holiday weekend as you wouldn't be able to access your money until the first working day after payment. Have you contacted the Co op to see what they say about it?

BlushingRose

Yes, we've spoken to them and they tell us that that's just how it is for them.
I'm pretty certain that on occasions that I'm paid on a Saturday, my money is available on the day, but my account is a current account and I'm wondering if it's a 'basic' thing or a 'co-op' thing.
Mr BR has asked at work to see if he could get paid earlier when it's a Saturday pay day but apparently they've said that their system isn't flexible enough to pay one person earlier.

FireWyrm

Is there anyway Mr BR can get them to run the payroll earlier? Usually, if it's run before midday, it appears that day, but if it clears after that, it will be the next working day...which is a Monday.

1step-at-a-time

I've not had this problem on the co-op basic account. Just looked at my statement and have had money paid in on a Saturday from work and a transfer from hubby and both have been available immediately for me. I'm paid on 1st which is a Saturday this month too so will have to see what happens. What I do have is all DDs/SOs set up to go out on 4th of the month so that if I have a problem there is a few days to sort it

JustinCredibleGillespie

Hey BR. I'm also with Co-op, and this does happen alot. If my payday is a Monday, my colleagues all get paid on a Saturday!! It's because co-op is like a building society. Nationwide is the same.

Banks like Natwest, Ulsterbank & Bank of Scotland would all be paid on a Saturday too. Maybe have a look at their accounts.

I have a Bank of Scotland easycash also which I applied for a year back, its a basic account with internet banking and you'll be paid on a Saturday if your pay was due on a Monday. Hope this helps.

JCG

xx

BlushingRose

Hmmm...interesting.
I've actually looked at Mr BR's pay-slip and it says pay-date the *26th* which it shouldn't be, it should be the 24th as that's when he's always paid so perhaps work have been telling us it's down to the bank (which the bank have backed up, to be fair) but this month it looks like the place of work are paying him late!
Great...so, no food until Monday then...well, we can cope but it's not going to be fun.

Walaboobah

My payday is always 25th month, if 25th happens to be a non-working day then I get paid on the last working day prior to the 25th, so got paid today, just checked bank account and my pay is in there.

I thought that was standard practice and has always been the case where I've worked both in private and public sector

I've got a select account with Natwest and no problems so far with that one so might be worth changing if it is an issue with the bank

sistafromanothermista

BlushingRose wrote: »

Hmmm...interesting.
I've actually looked at Mr BR's pay-slip and it says pay-date the *26th* which it shouldn't be, it should be the 24th as that's when he's always paid so perhaps work have been telling us it's down to the bank (which the bank have backed up, to be fair) but this month it looks like the place of work are paying him late!
Great...so, no food until Monday then...well, we can cope but it's not going to be fun.

You can come to mine for your tea BR
With regards to the bank, i echo what others have said really. If my pay is due on a Sat then it gets paid on a fri....

thatsean

That's odd, I've always been paid the last working day of the month, or if temping like I am now on Friday. I didn't even know you could be paid on a Saturday.

I know RBS group let people have Monday's wages EARLY, by processing all debit and credits - so a Sat is a Monday.

Is the paydate variable?

rising_from_the_ashes

JustinCredibleGillespie wrote: »

If my payday is a Monday, my colleagues all get paid on a Saturday!! It's because co-op is like a building society. Nationwide is the same.

Banks like Natwest, Ulsterbank & Bank of Scotland would all be paid on a Saturday too. Maybe have a look at their accounts.

I have a Bank of Scotland easycash also which I applied for a year back, its a basic account with internet banking and you'll be paid on a Saturday if your pay was due on a Monday. Hope this helps.

It depends on the bank ...... you've said it's because Co*op is like a building society - sorry but don't see what that's to do with it?

If I'm paid on a Monday, mine doesn't go in until Monday - but some of my colleagues would get it on Saturday (RBS & BOS certainly) but my bank is certainly not a BS.....