BACS payment clearing days

[badgerchops]

How long does it take for a BACS payment to hit the payees account. i.e a company have paid me a bacs request on Thursday (Thursday was their issuing date) so what day will it hit my account ??

thanks

[jmck66]

it will be available when it hits your acct on monday

[PFA]

CHAPS = 1 Working day before cut-off or next working day after cut-off

BACS - 3 - 5 working days depending on the cut-off time and debiting / crediting bank's policies

Hope this helps.

PS: Sat and Sun are NOT working days

[Mrs_Pegasus]

It is whenever they have dated the BACs to run on. Some companies will get it to run Friday night so that it is in their accounts over the weekend therefore gaining interest on the money.