Lloyds Tsb Question

joanne_p

Hi guys, wondered if you could help me, i used to bank with barclays and when i got paid, my employer would use faster payment so would have my wage thursday or friday afternoon, couple of hours it would take at most,
Recently joined lloyds tsb, and the faster payments are taking longer, last time i didn't get my wage until sunday night around 7.30pm, and today haven't received it.

I asked my employer they said they were sent thursday afternoon like normal, spoke to someone i work with and they got there's yesterday afternoon.

Iv spoke to LLoyds who said it should of been 2 hours, iv spoke to work they said have been sent..

Can anyone enlighten me with how long it would take? Especially with it being bank holiday on monday, i take it nothing will be processed now until Tuesday?


Thanks

pooch

joanne_p wrote: »

Hi guys, wondered if you could help me, i used to bank with barclays and when i got paid, my employer would use faster payment so would have my wage thursday or friday afternoon, couple of hours it would take at most,
Recently joined lloyds tsb, and the faster payments are taking longer, last time i didn't get my wage until sunday night around 7.30pm, and today haven't received it.

I asked my employer they said they were sent thursday afternoon like normal, spoke to someone i work with and they got there's yesterday afternoon.

Iv spoke to LLoyds who said it should of been 2 hours, iv spoke to work they said have been sent..

Can anyone enlighten me with how long it would take? Especially with it being bank holiday on monday, i take it nothing will be processed now until Tuesday?


Thanks

Faster payments usually take less than 2 hours.

Which bank does your colleague bank with?
Which bank does your employer use?

Are you sure absolutely sure your employer are paying via FP? Most use BACS.
Ultimately the bank are only obligated to pay you in accordance with your employment agreement, although most, despite paying via BACS, state the day you should receive the money, not the day they send the money. They do this by submitting payroll several days in advance of payment needing to arrive at their employee's account

What does your employment contract state about when you should be paid?

joanne_p

Hi my employer is RBS and so is colleague, When i banked with barclays it would come up with FPS/3rd parties, so i presume thats faster payments, with me being paid thursday afternoon around 4pm.

I know my employer always puts them in on thursday so they are available for weekend, we are not a big business she owns the company but im 100 percent sure she uses faster payments.

We are due to be paid for the monday, but as i said they are always put it alot earlier, but just worried with it being bank holiday and not in tonight is it going to be tuesday now?

cheers

joanne_p

If it helps on my lloyds statement from last month it says TFR. which is transfer, so is that why its taking longer?

pooch

joanne_p wrote: »

I know my employer always puts them in on thursday so they are available for weekend, we are not a big business she owns the company but im 100 percent sure she uses faster payments..

joanne_p wrote: »

If it helps on my lloyds statement from last month it says TFR. which is transfer, so is that why its taking longer?

This would indicate your employer is not paying via Faster Payments; if she was, your entry would show FPI

joanne_p wrote: »

We are due to be paid for the monday, but as i said they are always put it alot earlier, but just worried with it being bank holiday and not in tonight is it going to be tuesday now?

If your contractual agreement says you should receive your money on Monday, then your employer is obligated to ensure you receive your money on or before this day.

I suggest you speak with her about her habitual breaching of contract

(Alarm bells should be ringing ... and only you speaking with her can possibly silence them)

innovate

joanne_p wrote: »

Hi my employer is RBS

joanne_p wrote: »

I know my employer always puts them in on thursday so they are available for weekend, we are not a big business she owns the company but im 100 percent sure she uses faster payments.

Can you clarify who your employer is? Are you working for an agency who have deployed you at RBS? If so, your employer is the agency.

If any FPs were sent yesterday, the receiving bank has until end of today to credit the money (all FPs need to arrive by end of the next working day).

Sensory

I've made manual payments from Halifax to Lloyds, which ended up being TFR instead of FPO/FPI, and I'm not entirely sure why, except that they're all part of the same banking group.

joanne_p

Sorry should clear that up, my employers bank is RBS.

On my Barclay account it used to say FPS, but if it wasnt paid by faster payment, how come it was in thursday afternoon with barclays, but with lloyds its not?

joanne_p

If banks have end of the day, what time am i looking at it going in? i thought it was close of business like 5pm? there is no one in the office now until tuesday now at work.

Like i said last time i got paid with lloyds it went in on a sunday night but with barclays its thursday afternoon..

Just worried its not going to be in before monday, ill give it till saturday afternoon and try and get intouch with my employer.

innovate

The "end of day" processing for literally all banks/BSs takes place sometime between 7pm-ish and 7am-ish. Different banks have different times, and they all can change their times permanently or temporarily.

It sounds as if you might be a bit strapped for cash this weekend because there is a change in the weekly pay. It will sound tough, but you have to work on a bit of a buffer for yourself - - set a a target that in 1 or 2 months by the latest, you will have a week's worth of income spare.

Then keep building on this, until you have 6-9 months spare cash in the bank, as a rainy-day fund.

joanne_p

Well it still not in, guess it was BACS this time