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BACS payments into TSB bank

5 replies

DJJohnson · 30/07/2019 12:24

I'm waiting for a BACS payment from a solicitor into my TSB bank. The solicitors said they processed it on Thursday lunchtime last week so thought monies would be in the bank by now. Not arrived yet. Any idea if it can still arrive today or not?
thanks

OP posts:
Bellie99 · 30/07/2019 12:37

I thought BACS went through the same working day?

I would be ringing the bank to see if they have put it in their suspension account as a precaution

DJJohnson · 30/07/2019 12:39

BACS generally take 3 working days - I do know what much!!

However have heard different banks have different times of receiving funds and updating accounts etc. It depends on the receiving bank but can't seem to get a definitive answer with regards to TSB. Have been told they are not a 'clearing bank' whatever that means, so again this could add time as the monies have to clear before being deposited.

OP posts:
username678889 · 30/07/2019 12:42

If it was a 3 day bacs and was done Thursday it should of cleared Monday but can take up to 5pm . They may have but the date today or another day to clear . Have they sent you confirmation?

DJJohnson · 30/07/2019 12:53

Weekends don't count as they are not working days. I was given a time when the solicitor said they processed it, which was around 1.20pm on the Thursday last week. I do not know who they bank with and whether there is a cut off time with them as well.

OP posts:
username678889 · 30/07/2019 12:58

Yeah I know I work in finance . Ask what day it is to clear as I can set a payment up to clear next week or longer so you need to check .

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