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

affordmylife

i can use my debit card with the halifax even though my wages wont credit until monday because i have a £2,000 overdraft available which i can use if i wish.

but im going to be good and wait until monday x

kezza12

and there's no need to be rude to other posters, you asked for advice so they're giving it to you

Riq

Just in time to buy me a birthday present then, it's mine on Monday 31st!!

MR_SKINT_3

Thank you for your advice Kezza.

I gave the reply I did because he was crowing about having an overdraft when I it is obvious that I don't.

I do have a Debit Card but surely I can't use this at a a supermarket for cash back unless I had available funds ?????????

kezza12

some cards will let you spend on them when there's no money in them over the weekend as the machines will not be banked until the monday, if i spend on my card at certain places it will show up straight away if say they also bank with halifax but at other places it doesnt show up till the next working day where the money will already be in your account. i'm not saying that this will be the case but you can always try it.

Iamthesmartestmanalive

MR_SKINT wrote: »

Thank you for your advice Kezza.

I gave the reply I did because he was crowing about having an overdraft when I it is obvious that I don't.

I do have a Debit Card but surely I can't use this at a a supermarket for cash back unless I had available funds ?????????

No you can't and unfortunately for you it would appear that your bank is the same as your employers otherwise a bacs should be in.

Cheques, credit cards, loan off a pal is about all you can do

kezza12

no it's just the halifax, my employer banks with barclays and i'm with the halifax and my money doesn't show till the monday.

Thomas_Crown

Iamthesmartestmanalive wrote: »

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

Where a salary payment is due into my account on a Monday LTSB don't update my online statement until Sunday evening. Some employers will pay salary payments due on a Saturday or Sunday on the Friday but others pay Saturday salaries on the Friday & Sunday salaries on the Monday.

I can remember about 20 - 25 years ago, I worked with a man who's sister worked for a large financial institution. Back then there were people working weekend nights processing salary payments etc. The rule then was that salaries payments had to be in the recipients account by one minute past midnight on pay day. The actual salary credits were processed at 9.00pm the day preceding pay day.

chambta

MR_SKINT wrote: »

When do salaries due on 31/03/2008 (via BACS I think) get credited to Bank Accounts ???????????????????????

Will some banks credit monies on Saturday ???????

If so, which ones ??????????


Thank you

Certainly with RBS/Natwest BACS credits due in on Monday would be withdrawable from an ATM at 12.01am on Saturday. However it does work the other way as items such as D/Ds and cheques would also affect funds availability.

Scousebird_2

You could use the money, but you could get into the habit of relying on the funds every time we have the last day of the month falling on a Monday again. If you are paid on the 31st then expect your salary to go in on that day and then you are managing your money right. Play it safe!