i have a amount off money being payed into my account at the end of the month can the bank tell you if it has been set up it is payed by bacs and is i one off payment
2007-01-12 20:32:17 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Bacs payments take 3 working days to credit an account.
The Bank making the payment can confirm that the payment has been made (But they must stay within the terms of the Data Protection Act).
Your Bank will only know about the payment once it has been received and credited to your account.
If you are releasing goods or services against a Bacs payment it is wise to allow an additional day after it has been received into your account as Bacs payments can be recalled on the same day.
2007-01-13 07:01:17 · answer #1 · answered by angie 5 · 0⤊ 0⤋
Again no.
Your bank as receiver will not know until the money is sent.
The sender who has set up the transfer will have requested the transfer from their own bank but their bank will not action it until the end of the month. If the details are wrong in any way the payment will bounce back to the senders bank. (although the clearing system will mean that the bounce back will take 5 or six days).
2007-01-12 20:40:02 · answer #2 · answered by andy_bermuda_2003 2 · 0⤊ 0⤋
I think you can call the bank a day before to find out if it is definately going through and how much.
If you bank with HSBC or LLOYDS TSB they will see a day before, not sure of the other UK banks
2007-01-13 00:29:04 · answer #3 · answered by Rebz 5 · 0⤊ 0⤋
only when it enters the account when the bacs system has cleared it so be patient
2007-01-12 20:37:14 · answer #4 · answered by The tagg master 3 · 0⤊ 0⤋
No. By the time they realise it's coming in it will probably have credited your account
2007-01-13 00:20:48 · answer #5 · answered by Anonymous · 1⤊ 0⤋