BACS on a Saturday

poppy12345

Thrugelmir said:

baronga said:

mab3000 said:

If Monday is going to be the 3rd working day for this payment, then it will be in your account early tomorrow morning as available funds, but the transaction will have Mondays date on it. This is how Barclays works with payments due to go in on Monday. 

This is helpful, thanks. Are you absolutely sure?

That's how the BACS system has worked for many years. Banks often undertake essential system maintenance at weekends. 

Not for all banks it doesn't. Natwest stopped this quite a few years ago. Monday's payment is now available on a Monday, not Saturday. Same for DD's they no longer go out of your account on a Saturday.

mab3000

baronga said:

mab3000 said:

If Monday is going to be the 3rd working day for this payment, then it will be in your account early tomorrow morning as available funds, but the transaction will have Mondays date on it. This is how Barclays works with payments due to go in on Monday. 

This is helpful, thanks. Are you absolutely sure?

Yes absolutely sure. If it doesn’t go in tomorrow then Monday isn’t the 3rd working day for the payment. 

baronga

I am just not sure if money due on Monday might clear on Saturday morning into a Barclays personal account. Some say it does some say it doesn't. Any insight into this?

mab3000

Maybe it’s because most banks do not make Bacs payments that are due into the account on a Monday available on the Saturday. Barclays do though. 

In around 3 hours time you will know if you will get this payment tomorrow or not. 

I can’t be any clearer. If it doesn’t go into your account tomorrow, then the payment wasn’t due to go into your account on Monday. 

When did the sender of the funds say they made the payment? 

stclair

I though banks stopped this doing this due to changes in some legislation relating to PSD. 

mab3000

stclair said:

I though banks stopped this doing this due to changes in some legislation relating to PSD. 

What Barclays don’t do is pay out any payments due out of the account, such as direct debits or standing orders, early. So they come out on the Monday, not the Saturday. 

I’m guessing what you are referring to is why NatWest for example stopped making payments out of the account on the Saturday instead of the Monday, and NatWest decided to do the same with payments due to go into an account on a Monday. 

preables

I get paid on Monday via bacs always goes in on Saturday at 12am (1hr5mins) 

if the third day is Monday will go in tonight 

mab3000

OP did the payment go in today? 

baronga

mab3000 said:

OP did the payment go in today? 

No it didn't

mab3000

baronga said:

mab3000 said:

OP did the payment go in today? 

No it didn't

Mustn’t have been due to go into the account on Monday then. When did the university process the payment?