Bank Holiday Transfer Delays

[Smegnoguk]

We have a Barclays account from which we transfer (by direct debit) £80 every Friday into a Barclays cash account (in the same branch) used by a dependant relative. For some reason, the money leaves the account every Friday, appears in the cash account the same day but cannot be accessed until the next day (Saturday). This weekend, the transation was actioned on the Friday as usual (14th) but dated the 18th (Monday) but the money cannot be drawn from the cash account until tomorrow. This has caused the dependant relative considerable hardship over the weekend because she has no money. I have spoken to Nationwide about this and they say that transactions on their accounts go ahead regardless of whether it is a bank holiday weekend. Is this another Barclays [problem] to sit on money and earn interest?

[CrispDust]

Interestingly the opposite happens in my NafWest business account. My employer makes my salary BACs payment on the 14th of each month, which this year was of course, a bank holiday and so technically shouldn't be "in" my account until Tuesday 18th, however it was available to spend on the Friday. This happens with all weekend "deposits" How totally weird and unusual (for banks) is that?

[mcuth]

Interestingly the opposite happens in my NafWest business account. My employer makes my salary BACs payment on the 14th of each month, which this year was of course, a bank holiday and so technically shouldn't be "in" my account until Tuesday 18th, however it was available to spend on the Friday. This happens with all weekend "deposits" How totally weird and unusual (for banks) is that?

 

I don't think that's down to the bank - certainly in my experience, when a paydate falls on a weekend or Bank Holiday, every employer I've worked for (that's paid me by direct credit) has had the salary paid into my account on the last working day before the weekend/BH

 

Cheers

 

Michael

[CrispDust]

No believe me, my employer would pay at the last date possible, they are contractually obliged to "pay" it by 14th of month but that obligation doesn't extend to it being in my account! I have checked with my colleagues who are not with NafWest and they usually have to wait until the weekend is over where I don't.

[mcuth]

No believe me, my employer would pay at the last date possible, they are contractually obliged to "pay" it by 14th of month but that obligation doesn't extend to it being in my account! I have checked with my colleagues who are not with NafWest and they usually have to wait until the weekend is over where I don't.

 

How strange indeed then

I gotta say that the salary being cleared in my account the last working day before the BH/weekend has not only been with every employer, but also across every bank I've used.

 

One good thing (perhaps the *only* good thing - LOL) about A&L is that if my payday falls on a Monday, the salary's usually showing on my available balance & cleared for withdrawal by the Saturday evening!

 

Cheers

 

Michael

[Smegnoguk]

This topic was closed on 2019-03-08.

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