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DPS - waiting for BACS???
Renter101
Posts: 1 Newbie
Hi everyone,
So received this email from the DPS yesterday (Wednesday 19th) with this line in it:
Date repayment calculated: 17 June 2013.
Please note that payment will be released within two business days of the date repayment is calculated. Once released, the payment will be subject to standard bank clearing times.
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I know they use BACS, but what I'm trying to work out is did the BACS started on Wednesday 19th or Today 20th (Thursday).
If it was Wednesday would it be cleared Friday with Lloyds TSb
So received this email from the DPS yesterday (Wednesday 19th) with this line in it:
Date repayment calculated: 17 June 2013.
Please note that payment will be released within two business days of the date repayment is calculated. Once released, the payment will be subject to standard bank clearing times.
--
I know they use BACS, but what I'm trying to work out is did the BACS started on Wednesday 19th or Today 20th (Thursday).
If it was Wednesday would it be cleared Friday with Lloyds TSb
0
Comments
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I doubt it, it will be released tomorrow and the BACS transfer starts from tomorrow, so expect it on Tuesday0
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Hardly anything uses BACS any more. Payments of £10k or less will usually be transferred using Faster Payments, which should take minutes.Note: Unless otherwise stated, my property related posts refer to England & Wales. Please make sure you state if you are discussing Scotland or elsewhere as laws differ.0
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Hardly anything uses BACS any more. Payments of £10k or less will usually be transferred using Faster Payments, which should take minutes.
I'm not so sure, but will stand to be corrected. My understanding is that some businesses still run payments "in bulk" and that those are still paid via BACS - payroll is a good example of this.
Faster payments is fine, if the business is making each payment one at a time. But if they're batched and processed in bulk, then I believe that BACS is still the norm.Warning ..... I'm a peri-menopausal axe-wielding maniac
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Everything you ever wanted to know about BACS dinosaurs service here
http://www.bacs.co.uk/Bacs/SoftwareSuppliers/Pages/SoftwareSuppliers.aspxAdvice given on Assured and Regulated Tenancy, Further advice should always be sought from a Solicitor....0
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