August 2021 Early payday

UK Help
1

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

2

Yes.

4

I am paid weekly, on Fridays :relieved:
Usually see this :arrow_down: at the end of the month, but didnā€™t expect to see it today :grimacing:

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5

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

Not sure itā€™s a common payday really?

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6

Got it now :sunglasses:

7

No not a common paydate at all really, unless everyoneā€™s suddenly transferred to weekly Friday pay.

8

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:.

9

26th in ours

10

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:

11

I appreciate you canā€™t give exact figures but it the uptake really high?

Iā€™d be surprised if itā€™s more than 10%?
Does it take a lot of work behind the scenes to progress this?

12

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!

13

Guessing more than my 10% guess :rofl:

15

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

In addition weā€™ve got all the general ā€œloadā€ on the app and platform during the day, whereas at night thatā€™s much lower as the majority of customers are sleeping.

16

Iā€™d love to know what % is a lot?

I have done it a couple of times to test it but thatā€™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?

17

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:

18

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

Sort my payment, update my spreadsheet and Iā€™m done. I donā€™t need it any earlier, I havenā€™t spent anything since I claimed it early and wonā€™t before I would have been paid tomorrow, I just like having it done.

19

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

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

20

I use it sometimes but I messes up my Summary

21

I use it but only just after midnight so it doesnā€™t mess up my summary :joy:. I only use it then so I can sort my money before going to sleep instead of doing it in the morning.

22

I use it without fail, gives me a day ahead to manually move money, pay the Monzo loan etc etc.

I donā€™t use summary of any budgeting stuff on my account.