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I just checked and its same for me so nothing to bother aboutrukhsarmanzoor wrote: My payslips say BACS, been with my employer a year and have just noticed all my statements say the use Faster Payments. I don't know a great deal about the difference, only that my current employer does pay us fast. Does anyone know if this is also a mismatch and will be an issue?
nice111 wrote:I dont think so dates will be the issue as I am getting salary slips on different dates and getting paid on different dates. My salary slips always show end of the month dates but sometimes I am getting my salary in the bank next day & sometimes after one week.
BACS, CHAPS and FPI are kind of similar to each other. Small organisations mostly use FPI to pay their employees. I dont see any problem in that too.
In my personal opinion you should be fine unless someone else gives a better/expert opinion otherwise.
That is reassuring to know, thanks.ILR1980 wrote:I just checked and its same for me so nothing to bother aboutrukhsarmanzoor wrote: My payslips say BACS, been with my employer a year and have just noticed all my statements say the use Faster Payments. I don't know a great deal about the difference, only that my current employer does pay us fast. Does anyone know if this is also a mismatch and will be an issue?
WiKi : Faster Payments Service (FPS) is a UK banking initiative to reduce payment times between different banks' customer accounts from three working days using the long-established BACS system, to typically a few hours