Originally Posted by davyk31
Using a BACS payment will take 3 days, this is the cheapest method as it will only cost them a few pence, that's why they choose it and the person sending the money retains it in their account until the maturity day therefore they also earn interest.
Yeh a proper BACS Transfer will take 3 days. Due to the process. Don't ask me what it is!! But when i paid our wages manually via internet banking it would be minutes before it hit staff's bank accounts. Now i use a company to pay the wages and had to set them up as a BACS authority we have to prepare our wages 3 days earlier :s