Saturday/Sunday transactions.

davmail

I bank with HSBC,my salary is paid on the 15th of each month,but because the banks dont work sat/sun I dont get paid until Monday 17th,as 15th is a Sat,anyway,today(15th) HSBC took out money for bank charges and interest,how can they take money out,but not accept it in on a Sat,??????Seems wrong to me.My salary is on their system,as they told me how much,but it wont be credited to my account until Monday,seems wrong to me.

dellwear

I would assume that they have reserved the money for the charges* but you'll not be charged if they have pushed you over any OD limit as their fair charging policy says if money is paid in the same working day (it will on Monday) they won't charge.

BACS salary payments are strange things

*They do state the money for charges, DD or other payments should be in the working day before tehy go out.

RayWolfe

Check with you're employer. My experience is that if credits are due to you on a certain date, then you would (should) get this on the day or the earlier working day. Debits are the other way on.

Mikeyorks

RayWolfe wrote: »

Check with you're employer. My experience is that if credits are due to you on a certain date, then you would (should) get this on the day or the earlier working day. Debits are the other way on.

And exactly my experience too. Never known a BACS direct credit be applied, for salary, after the due date.

Scousebird_2

davmail wrote: »

I bank with HSBC,my salary is paid on the 15th of each month,but because the banks dont work sat/sun I dont get paid until Monday 17th,as 15th is a Sat,anyway,today(15th) HSBC took out money for bank charges and interest,how can they take money out,but not accept it in on a Sat,??????Seems wrong to me.My salary is on their system,as they told me how much,but it wont be credited to my account until Monday,seems wrong to me.

HSBC will warn you what date the charge is debited in advance by letter for any overdraft or charges and what date they will be debited. Did you not get this?

Generally, interest charges are the same date every month.

Bearing in mind, if you are paid on the 15th, most good employers would pay you on the fri-any reason why you don't get it before as opposed to later. HSBC will not be witholding the funds-due to BACS-they physically can't clear it until Monday as your employer has not sent in early enough to credit for the 15th by the sounds of it.

battyboimatt

Well i bank with Natwest and I always get paid on the 25th of each month, if this falls on a weekend on a monday, It seems to show in my account on sat morning allowing me to take it out

ShelfStacker_3

Scousebird wrote: »

Bearing in mind, if you are paid on the 15th, most good employers would pay you on the fri

Yes, why were you credited like that? I know my employer says they'll pay us on the 26th or earlier, never after...

mrsplinter

The same as everyone else I always get paid early on the preceding working day if payday falls on a weekend or bank holiday. In fact this month I get paid on 20th because our normal payday (24th) is on Easter Monday.