Need Cheering Up

[starwatcher]

Having spent most of the month skint, today's payday guess what no pay in the bank. just after lunch receive cheque but as my account is a building society i have now got to wait another ten working days to get my pay

[piskieinboots]

that's the pits SW!

Is it usual practice to pay you via cheque rather than BACS? If not, I'd say this is a out of order as you have so long to wait. Can you talk to the employer and explain that you need access to funds now not in ten days time?

[Flummery]

This is pathetic in the days of speed banking. If the money is there you should be able to have it. Poor old starwatcher.

[starwatcher]

I usually get paid by bacs piskie have spoke to employer and its the usual oh it's the banks fault ,speak to bank no it your employer the real insult is I worked all over christmas for this pay cheers for your thoughts.

[Nicos]

Is it worth opening a bank account, paying it in and then it should be cleared by Monday? Or- wouldn't that work??

Yep...it's been a long month, and I've just had to pay the IR.

[starwatcher]

Nicos poor you have to pay the IR. I suppose it is partly my own fault just having a BS account perhaps i should open an ordinary bank account which as you righly say would speed things up a bit. it's my own little bit of rebellion in a way avoid current accounts and so avoid the credit they try to push with them! I dont vote just go and spoil my paper cause i dont think any of them are worth voting for don't do debt etc I like to think there is more to life than capitalist slavery

[MrsC]

Having spent most of the month skint, today's payday guess what no pay in the bank. just after lunch receive cheque but as my account is a building society i have now got to wait another ten working days to get my pay

by the time they had wrote the cheque surely they could have transferred the money (about 3 days)? maybe i'm wrong?

[bubblewrap]

Having spent most of the month skint, today's payday guess what no pay in the bank. just after lunch receive cheque but as my account is a building society i have now got to wait another ten working days to get my pay

Of couse this is a way of the people you work for to make money until the cheque is cashed the money sits in their account making them interest not much on one person but if the company employs a lot of people???

And I think the company you work for may be breaking employment law surely "pay day" means you should be able to access your cash on that day?
Are you a member of a trade union? If so contact them!

[Hazel at the Hill]

Of couse this is a way of the people you work for to make money until the cheque is cashed the money sits in their account making them interest not much on one person but if the company employs a lot of people???

No.

When a cheque is paid in, the money is removed from the payers bank. The cash does not arrive in the payees bank for some days (3 commonly but can be 10, as mentioned). The bank retains the interest.

I would not hold a building society current account for this reason - appalling robbery - in this day and age of technology, money could - and should- be transferred instantly.

Having a business account, we pay a fee on every cheque we write therefore we pay all our bills by bank transfer. It still takes 2 days to transfer, (ie debit from our account immediatly and turns up at the payee account in 2 days) but it's a deal site better than bank-to-bank cheque, or bank to bs cheque.

Obviously I don't know the circumstance of why starwatcher's company has a*sed about with the wages - but I doubt it's been done deliberately as I can't think of a more sure fire way to p*ss off your staff!

And I think the company you work for may be breaking employment law surely "pay day" means you should be able to access your cash on that day?

Again, No.

The only obligation the company has is to pay you subject to your employment contract.

If an employee chooses to have a building society account which won't let you access funds for 10 days after they're been paid in, it's the employees look out.

[SarzWix]

If it was me, I'd be very carefully keeping an eye on said company... Why would they suddenly change from BACS to paying by cheque? What sort of 'bank problems' are they having?! I'd also seriously consider having a basic bank account - you can get them at all the high street banks now, where you don't have a cheque book, overdraft or any credit facilities, but you get the cash-card etc & can have stuff paid into it. Just Google for Basic Bank Accounts.

[piskieinboots]

I agree Sarah, I'd be a touch suspicious as to why the payment method change and do get a basic account at the very least - just in case this happens again

[Skotch]

I would quite simply tell the employer to ensure cleared funds were in my account on the day they should be - what about any penalties incurred as a result of not having money in your account to cover them - a mortgage payment springs to mind - default on a payment and it goes on to your record and that of a credit reference agency. Will your employer also cover any interest and charges incurred as a result? I believe there is a legal obligation for them to honour their part of the employment contract.

Anyway, the title of the thread is "Need Cheering Up" and this made me howl:

YouTube - Japan Binocular Football

I would insist on cash or cleared funds immediately

Skotch

[kentvegplot]

This sounds suspicious. Perhaps the company didn't have funds to cover the wages, so drew cheques in order to give themselves some more time.....what about your colleagues? Are you all in the same boat?

Sorry to hear about it though, it is the pits when companies play fast and loose with peoples livelihoods. I've run several businesses and the golden rule was to make sure the staff were paid when they were supposed to be.

[HeyWayne]

I'm not going to enter into the whole rights and wrongs of banking - LadyWayne is a banking person and we've had far too many "discussions" around it.

However, your post title asks for one thing I am pretty good at. So, try this: Cheer Me Up!

[Headfry]

odd kinda site HW ???? :-)