August 2021 Early payday

My payday for this month is august 31st. I usually benefit from the early pay day however the 30th is bank holiday. Will I be able to access the money on Friday 27th?

I am paid by Bacs

Yes.

Probably.

I can’t be bothered to scroll any further

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I am paid weekly, on Fridays :relieved:
Usually see this :arrow_down: at the end of the month, but didn’t expect to see it today :grimacing:

I was just searching for this topic to say the same.

Not sure it’s a common payday really?

Got it now :sunglasses:

No not a common paydate at all really, unless everyone’s suddenly transferred to weekly Friday pay.

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Teachers in my local authority get paid on the 20th of the month so I would consider it a common monthly payday for me :grin:.

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26th in ours

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Today was just a trial run (on a quiet day) to see how it works to enable us to spread the load on really big paid early days :blush:

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I appreciate you can’t give exact figures but it the uptake really high?

I’d be surprised if it’s more than 10%?
Does it take a lot of work behind the scenes to progress this?

A lot of people use paid early, and it puts a lot of pressure on our platform when everybody logs on at 4pm and drags the money into their wallet!

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Guessing more than my 10% guess :rofl:

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I’m not sure if this was explained elsewhere before but I know it was asked before. How is this different to the money hitting everyone’s accounts at 1 or 2am on regular payday? Or do you spread the load more evenly at night?

I thought money had to be in by a certain time – to then allow outgoing funds to go out. At least that’s how I have always seen it happen

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Because we batch process the bacs payments, so they actually get credited to people’s accounts over several hours, rather than at the same time.

In addition we’ve got all the general “load” on the app and platform during the day, whereas at night that’s much lower as the majority of customers are sleeping.

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I’d love to know what % is a lot?

I have done it a couple of times to test it but that’s it.

I can understand though to get it before a bank holiday Is good on the Friday but on Tuesday how many still agree it was a good idea?

I do it every month, as do most of the people I know.

I get it done, move my money into pots for my bills and then forget about it :+1:t3:

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I get it early every month for the same as Dan says.

Sort my payment, update my spreadsheet and I’m done. I don’t need it any earlier, I haven’t spent anything since I claimed it early and won’t before I would have been paid tomorrow, I just like having it done.

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I think this is key for me, I just like to know the money is there and I’ve sorted it.

I figure it adds a penny or two to my monthly interest too :wink:

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I use it sometimes but I messes up my Summary

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