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Salary paid between 9am and 11am

  • 31-01-2014 10:52am
    #1
    sflemings
    Registered Users, Registered Users 2 Posts: 148 ✭✭


    Has anyone heard of a mandate from the government that told all banks not to pay out salaries until the window between 9am and 11am the morning they are to get paid? This mandate came in two weeks ago apparently


Comments

  • #2
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,375 CMod ✭✭✭✭Nody


    Based on what source? I can't really see it being implemented simply because the bank don't know what the payment type coming in is going to be. Either ALL payments are allocated at time X or it's done with all other payments.


  • #3
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    sflemings wrote: »
    Has anyone heard of a mandate from the government that told all banks not to pay out salaries until the window between 9am and 11am the morning they are to get paid? This mandate came in two weeks ago apparently

    Apart from this post - No.


  • #4
    sflemings
    Registered Users, Registered Users 2 Posts: 148 ✭✭sflemings


    The bank (not one of the two big) that our company accounts are with told us this was the case this morning.

    The company wasn't told this from the bank that we wouldn't get paid until between 9am and 11am this morning. As you can imagine there was a bit of a fuss when everyone checked their accounts this morning and no one got paid, except strangely enough those with accounts in the particular bank


  • #5
    bmwguy
    Closed Accounts Posts: 2,006 ✭✭✭bmwguy


    sflemings wrote: »
    The bank (not one of the two big) that our company accounts are with told us this was the case this morning.

    The company wasn't told this from the bank that we wouldn't get paid until between 9am and 11am this morning. As you can imagine there was a bit of a fuss when everyone checked their accounts this morning and no one got paid, except strangely enough those with accounts in the particular bank

    Was it Ulster Bank? If so, we have the same issue now in work


  • #6
    smcgiff
    Closed Accounts Posts: 5,943 ✭✭✭smcgiff


    sflemings wrote: »
    The bank (not one of the two big) that our company accounts are with told us this was the case this morning.

    The company wasn't told this from the bank that we wouldn't get paid until between 9am and 11am this morning. As you can imagine there was a bit of a fuss when everyone checked their accounts this morning and no one got paid, except strangely enough those with accounts in the particular bank

    I've heard people saying SEPA has affected the timings of payments coming into banks, but for it to be actual government policy doesn't make sense.


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  • #7
    testicle
    Closed Accounts Posts: 5,429 ✭✭✭testicle


    It's to do with SEPA, nothing to do with Gubmint policy


  • #8
    sflemings
    Registered Users, Registered Users 2 Posts: 148 ✭✭sflemings


    testicle wrote: »
    It's to do with SEPA, nothing to do with Gubmint policy

    Probably is to do with SEPA but what about the 9am-11am window? Does this make sense regarding SEPA?


  • #9
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,375 CMod ✭✭✭✭Nody


    sflemings wrote: »
    The bank (not one of the two big) that our company accounts are with told us this was the case this morning.

    The company wasn't told this from the bank that we wouldn't get paid until between 9am and 11am this morning. As you can imagine there was a bit of a fuss when everyone checked their accounts this morning and no one got paid, except strangely enough those with accounts in the particular bank
    That's about bank allocation of funds; got nothing to do with salaries as it affects all incoming payments.


  • #10
    sflemings
    Registered Users, Registered Users 2 Posts: 148 ✭✭sflemings


    bmwguy wrote: »
    Was it Ulster Bank? If so, we have the same issue now in work

    Yes!


  • #11
    thebostoncrab
    Registered Users, Registered Users 2 Posts: 3,491 ✭✭✭thebostoncrab


    We are the same and it has nothing to do with the gov, it's because of SEPA.


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