I'm due a FPS payment today and it hasn't gone in.

Armorica

Some non-directs can execute practically instantaneously - although many choose not to (e.g. especially smaller firms that don't have the technology for real-time checks/updates to customer accounts).

There are two different reasons why banks should meet the end of next business day. One is hard-wired into the Payment Services Regulations - it's a legal requirement on the sending bank for customer funds to arrive with the recipient by the end of the next business day. The second is soft-wired into the Faster Payments rulebook - this permits up to the end of the next business day for the receiving bank to confirm the status. Many FPS are checked online and the receiving bank and confirm acceptable immediately. But some organisations will give only qualified acceptance - the larger firms for some payments (e.g. to an ISA where deposit limits apply, or credit card accounts), and smaller firms to all their accounts (e.g. a building society that offers savings accounts may not have their systems operational over the weekend). This qualified acceptance varies from two hours, end of business day, and end of next business day. 

An increasing number of firms use FP for salaries - especially SMEs, for temporary/contract staff, for weekly payroll, for those paid by the hour etc. These would tend to use the Forward Dated Payment or Standing Order functionality.  Bacs remains common for the larger firms and salaried staff where the list of those on the payroll is more stable. 

And the original question isn't really that clear...but some FPS are made on bank/public holidays - but unlikely to be those connected to salaries. Usually people would get paid a day etc. early - but your employer may take a different approach and this might depend on what is said in your contract.

Dazed_and_C0nfused

Shane the op hasn't returned to clarify but I don't think the query was actually about faster payments as the op started,

A FPS is a full payment submission

williewonder

I received my money today so I believe FPS don't work on bank holidays.

Dazed_and_C0nfused

williewonder said:

I received my money today so I believe FPS don't work on bank holidays.

By FPS did you mean faster payments or full payment submission?

Thrugelmir

williewonder said:

I received my money today so I believe FPS don't work on bank holidays.

Banks use non working days to perform system maintenance. 

[Deleted User]

@williewonder you've had useful advice, it would be good if you could confirm some of the points raised.

RG2015

It is unfortunate that Full Payment Submission and Faster Payment Service both have the same initial letters.

It appears that if HMRC put a date on a full payment submission, that this does not denote the actual payment date. In this case by being delayed by the bank holiday being a non payment day.

williewonder

All I know it was a full payment submission and it got paid the day after.

General_Grant

williewonder said:

All I know it was a full payment submission and it got paid the day after.

Thank you for confirming that it was a Full Payment Submission - which is exactly what you wrote in your OP.

Unfortunately a lot of the replies in this thread were about the Faster Payments Scheme.