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Pay day timings???

  • 30-06-2009 8:35am
    #1
    flash harry
    Closed Accounts Posts: 511 ✭✭✭


    Hi All

    Not sure if anyone would know - if an employer pays by cheque is it tough t*tty to the employees who bank with a different bank than the company re when they actually get access to the loot??

    i.e. if I'm with BOI and employee is they'll get immediately (ish) but may take 5 days if with another bank.....


Comments

  • #2
    Buffman
    Registered Users, Registered Users 2 Posts: 2,875 ✭✭✭Buffman


    flash harry wrote: »
    if an employer pays by cheque is it tough t*tty to the employees who bank with a different bank than the company re when they actually get access to the loot??

    Yes, your company has no control over the time taken to transfer money between different banks.

    Even with electronic transfers it can take upto 3 days, whereas if it's with the same bank it will be the same day.

    FYI, if you move to a 'smart' meter electricity plan, you CAN'T move back to a non-smart plan.

    You don't have to take a 'smart' meter if you don't want one, opt-out is available.

    Buy drinks in 3L or bigger plastic bottles or glass bottles or cartons to avoid the DRS fee.



  • #3
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Normally if you lodge the money in your account, it is credited to your account immediately, but not available to be drawn upon until such time as the cheque clears. Also- 3 days would be normal for clearing- not 5.

    S.


  • #4
    Beano
    Closed Accounts Posts: 3,357 ✭✭✭Beano


    The employee could always take the cheque to the branch that the employer banks in and cash it. Thats what i've always done when paid by cheque.


  • #5
    Assets Model
    Registered Users, Registered Users 2 Posts: 308 ✭✭Assets Model


    Some banks will let you have acess straight away if its yoru pay cheque and charge you interest, AIB do with me anyway. Worth asking.


  • #6
    flash harry
    Closed Accounts Posts: 511 ✭✭✭flash harry


    so the employers obligation is to transfer OR give cheque on a given day, not ensure the employee has access to it on a given day???


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  • #7
    Buffman
    Registered Users, Registered Users 2 Posts: 2,875 ✭✭✭Buffman


    flash harry wrote: »
    so the employers obligation is to transfer OR give cheque on a given day, not ensure the employee has access to it on a given day???

    Pretty much, ye. Unless you're getting paid in cash there's no way around it.

    FYI, if you move to a 'smart' meter electricity plan, you CAN'T move back to a non-smart plan.

    You don't have to take a 'smart' meter if you don't want one, opt-out is available.

    Buy drinks in 3L or bigger plastic bottles or glass bottles or cartons to avoid the DRS fee.



  • #8
    Eoin
    Registered Users, Registered Users 2 Posts: 21,263 ✭✭✭✭Eoin


    There's not much to get around though, they're not paying you any less money, or any less frequently. If the clearance time is an issue, see if you can shift some of your monthly payments out by a few days.


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