When do salaries due on 31/03/2008 get paid ?

affordmylife

i also bank with the halifax and work for a very reputable company and the last working day of the month is my pay day.

so monday 31st March is the day it will be in my account. yeah i wish it was friday but thats not my payday.

anyway a massive chunk of it is going straight to credit card anyway so it dont really matter what day cos there wont be naff all left anyway x

advantix

When my payday fell on a Monday, my wages were available for me to draw on on the Saturday but the actual date shown for my wages being credited to my account was Monday. (And, for all the doubters out there i did not get charged for going overdrawn if i drew money out on the Saturday as my wages were shown in my available balance on the Saturday).

I asked the bank about this and they stated this was correct as the BACS run was done on the Friday night / Staurday morning and the next one wasn't until Monday night so the only way of getting the money there for Monday was to include it in the Friday night BACS run. This may well have changed but my money is still available on a Saturday if Payday is a Monday.

annettetabs

My husbands pay day is 31st March but he banks with Natwest and is paid by BACs. Just checked online banking and its showing today as available funds - hooray!

YorkshireBoy

@advantix,

Exactly the same happens with Yorkshire Bank. Not only BACS Direct Credits (eg salary), but any other credit due on Monday (eg BACS transfers, cheques clearing, etc) is processed around 23:00 on Friday evening and is available to 'spend without penalty' on Saturday.

I understand the same is not true of Halifax, who process 7 days a week and so won't show the credits until the Sunday night processing run has been completed.

iwanttoberich

I bank with Natwest. They don't process anything on weekends, so any payments due in or out are processed on the Friday before. If payday falls on a Monday, my salary is always in, and direct debits & standing orders go out, on the Saturday.

sadiejp

woooooo after reading this thread have just checked my online banking and true to form my wages are in.............thanks everyone wouldnt have checked if i had not read this..........we can now eat this weekend and my cat can stop looking at me all sad!!!

PS i bank with NatWest

Iamthesmartestmanalive

DanDan123 wrote: »

Monday is a working day - why would it be paid in any earlier?!

If your pay day is the 31st then it will be paid on the 31st, and i would imagine it will be avaliable in the early hours of Monday morning.

Banks do not do an update on saturday and Sunday nights so therefore any salary paid on sunday or monday will be paid on the friday/saturday at 12, unless its within the same financial group in which case the monday is possible

This isnt a hard and fast rule as other variables exist but generally speaking if you bank with a different instituation, where a salary falls due on a sunday, monday or bank holiday you will get paid the working day or saturday before

MR_SKINT_3

Thank you for your contribution Sir, but if you really are the smartest man in the world please tell me if there is any way (fair means or foul) that I can use my Debit Card today.

Iamthesmartestmanalive

MR_SKINT wrote: »

Thank you for your contribution Sir, but if you really are the smartest man in the world please tell me if there is any way (fair means or foul) that I can use my Debit Card today.

Yes you can

The funds will be showing as available so you can use them within your normal terms and daily limits etc

Just remember it means your wages are covering a slightly longer period as their is no guarentee next month will be a bit early

MR_SKINT_3

Thanks again Mr Smart but unfortunately I bank with Halifax and my fund aren't in yet.

Are there any strokes I can pull with my Debit Card to get my hands on cash today ?????????????????????????