What time should my wages clear?

Question

My employment contract says I get paid on the last Thursday of every month. Last month there was a problem as payroll had entered incorrect bank account details for me, they eventually did a direct transfer.

Anyway I am sitting up and checking my account, and no money. I thought it should have gone in at midnight - am I wrong? I checked the bank machine as well as telephone banking just to make sure.

many thanks for any light you can shed on this.

Answer 1

it will appear at 9am when the banks open, its still yesterday as far as the banks are concerned. They shut at 5pm and open at 9am, its sad they do that as everywhere else is 24 hours, but nope, not the banks (and I don't mean the branches here, I am talking about the actual banking trade, they wont open till 9am, your money wont appear until 9am)

Answer 2

We get paid on 28th of every month and its sometimes in at just after midnight but not that often. It could go in any time after that but should be in by midday!!

Answer 3

All automated payments, which include wages paid direct to your account, are processed overnight. This is done over several hours so your wages could show at midnight one month, 1 o'clock another month etc. There is no 'exact' time that it will be there, but it will be before business opens the next day unless there has been an error such as with your problem last month.

Answer 4

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Answer 5

Ordinarily, all BACS payments clear before 3am.  This is true of Barclays, HSBC, Lloyds, RBS and Nationwide.

Answer 6

Every bank will handle things a little differently.  Even if you had said what bank you deal with, it's not likely you'll get an accurate answer here.  You can try calling your bank and ask them when Thursday's direct deposits will post to accounts.  They may be able to tell you, but then again, maybe not.

Go to bed and check it in the morning.  Many things are updated overnight at banks and they all run on their own schedules so it's not really possible to tell you exactly when your pay will post.

Good luck.