Do you work in a payroll department?

[Solongtoshort]

Just wondering how much a wage bacs payment cost for a business . That’s all nothing interesting

Nothing in my small business, just do a direct payment. I'm not sure if some banks still charge for "faster payments" now, I have a figure of around £25 in my head for these...

Nothing for the monthly pay run. Approx £25 if an ad hoc payment is needed. Why?

I pay over 100k in wages every month. It doesn't cost any extra.

Most large payroll depts use a bureau and that creates the BACS payment run on an outsourced basis, depending on volume, I used to work in a large retailers payroll department (think floral and overpriced ‘aspirational’ that went bust at the start of the pandemic) and our BACS payments worked out at less than 10p each but the bureau costs were significantly higher.

@AndOtherStories in work we get paid weekly and l want to ask our boss if we could change it to monthly after a sort of spontaneous group discussion. I thought l would come up with some pro’s to take to him on Monday when we have our Team meeting.

In my current role we pay 260-280 employees salary's every month and we don't get charged for BAC's payments

Never been charged for this in any previous roles being doing payroll for 8 years.

[quote Solongtoshort]@AndOtherStories in work we get paid weekly and l want to ask our boss if we could change it to monthly after a sort of spontaneous group discussion. I thought l would come up with some pro’s to take to him on Monday when we have our Team meeting.[/quote]
Unless 100% want to go to monthly then there are no pros.
I have 2 jobs one paid monthly the others weekly.
I much prefer weekly and it is a good way to practice money management.

To add in my weekly paid jobs I run the payroll and it costs nothing to do the BACS payment.

It'll cost less in overall processing and admin, even if the payments are free to make!
If staff prefer monthly employers are onto a winner usually.

However, things to consider are changing frequency mid-year is not often an option, and cash flow issues can cause headaches.

I'd ask...they can only say no

Sorry, also meant to add that if everyone wants to change its less in processing and admin time.
Running 2 frequencies might be more of a pain than weekly, but not necessarily!