When will I get paid in December 2021 / January 2022?

Monzo Chat
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Here is a breakdown of the possible pay dates for incoming BACS and Faster Payments receipts into :monzo: bank accounts over the 2021 Xmas period - noting that employers may choose to pay salaries earlier than normal at this time of year and that the Paid Early feature is operational:

For salary/incoming payments via BACS (where the incoming transaction usually shows in advance as a greyed-out transaction in the feed) and also using the Paid Early feature:

  • Usually paid on 24-Dec, claim early @ 4pm on 23-Dec
  • Usually paid on 25-Dec, claim early @ 4pm on 24-Dec :santa:
  • Usually paid on 26-Dec, claim early @ 4pm on 24-Dec :santa:
  • Usually paid on 27-Dec, claim early @ 4pm on 24-Dec :santa:
  • Usually paid on 28-Dec, claim early @ 4pm on 24-Dec :santa:
  • Usually paid on 29-Dec, claim early @ 4pm on 24-Dec :santa:
  • Usually paid on 30-Dec, claim early @ 4pm on 29-Dec
  • Usually paid on 31-Dec, claim early @ 4pm on 30-Dec
  • Usually paid on 01-Jan, claim early @ 4pm on 31-Dec :fireworks:
  • Usually paid on 02-Jan, claim early @ 4pm on 31-Dec :fireworks:
  • Usually paid on 03-Jan, claim early @ 4pm on 31-Dec :fireworks:
  • Usually paid on 04-Jan, claim early @ 4pm on 31-Dec :fireworks:
  • Usually paid on 05-Jan, claim early @ 4pm on 04-Jan

For salary/incoming payments via Faster Payments (where the incoming transaction is usually received without any prior notification):

  • Usually paid on 24-Dec, should be received on 24-Dec :santa:
  • Usually paid on 25-Dec, should be received on 24-Dec :santa:
  • Usually paid on 26-Dec, should be received on 24-Dec :santa:
  • Usually paid on 27-Dec, should be received on 24-Dec :santa:
  • Usually paid on 28-Dec, should be received on 24-Dec :santa:
  • Usually paid on 29-Dec, should be received on 29-Dec
  • Usually paid on 30-Dec, should be received on 30-Dec
  • Usually paid on 31-Dec, should be received on 31-Dec :fireworks:
  • Usually paid on 01-Jan, should be received on 31-Dec :fireworks:
  • Usually paid on 02-Jan, should be received on 31-Dec :fireworks:
  • Usually paid on 03-Jan, should be received on 31-Dec :fireworks:
  • Usually paid on 04-Jan, should be received on 04-Jan
  • Usually paid on 05-Jan, should be received on 05-Jan

The above is based on Saturday 25-Dec being Xmas day (a weekend), Sunday 26-Dec being Boxing Day (a weekend) and Monday 27-Dec and Tueday 28-Dec being used as substitute Bank holidays because of the Xmas/Boxing Days falling on the weekend.

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It depends when the payment is scheduled for doesn’t it? For it to come earlier then the sender would need to schedule it earlier

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Yeah, hence:

“- noting that employers may choose to pay salaries earlier than normal at this time of year”

The FP breakdown is more of an assumption that employers will pay on the day before an upcoming weekend or bank-holiday-due-to-a-traditional-holiday-falling-on-a-weekend.

Fun FP fact - I get paid on the last day of the month via Faster Payments. But my employer chose to pay me yesterday instead - ON A BANK HOLIDAY :eyes:

The surprise was real when :monzo: ker-chinged

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For BACS transactions, you should be able to use the BACS processing calendars. Whatever day you would get paid normally, you should be able to get the funds after 4pm on the previous BACS processing day marked on the calendar (not a weekend or blanked out weekday).

Calendars for 2021 and 2022 are available on this page on the BACS website. https://www.bacs.co.uk/resources/pages/processingcalendar.aspx

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Monzo should really introduce it’s own calculator for this.

However, are you sure the above is correct?

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Good spot. Date-typo corrected :+1:

I doubt :monzo: will develop further features around this - they already warn not to rely on it.

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