BACS Payments
05 May 2006, 01:23 PM
#1
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BACS Payments
Are they subject to the working day rules. E.g If a BACS Payment was submitted today would it be processed tommorow or Monday then paid into my account on Monday/Tuesday?
05 May 2006, 01:28 PM
#2
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BACS payments are three working days, a working day being Monday to Friday excluding Bank Holidays. So, today being day 1, payment is credited day 3 i.e. Tuesday.
If required quicker then CHAPS/EFT should be used, should be same day credit if processed before lunch.
If required quicker then CHAPS/EFT should be used, should be same day credit if processed before lunch.
05 May 2006, 01:41 PM
#5
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Yes, what I inarticulately was trying to say was, don't expect to go in your branch five minutes before closing and expect a same day credit EFT!
Even if cutoff is 3pm transfer will have to be in their hands and set up to go well before that.
Even if cutoff is 3pm transfer will have to be in their hands and set up to go well before that.
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