Question about salary payment

[MeNeZ]

Hi,

My boss banks with Nedbank and I now have an FNB account, when he pays my salary I have to wait 2 days for it to clear (I get paid on the last day of the month which bites) so I get paid on the 2nd in effect

If I got a "salary cheque" it would clear instantly I beleive but couldnt he do the same by EFT?? Isnt there some law about being paid ON the day youre supposed to get paid??

 

[PsyWulf]

Tell him to do the payment before 4pm,should clear by next morning ( we also use Nedbank business banking ),mine usually clears by 10pm

 

[D3x!]

yeah he needs to pay before i think 3pm the previous day then it generally clears the next morning.

Although i dont see why it is an issue as after the first month you should be used to it? only thing is if you have debit orders that run on the 1st you will need to move them

 

[MeNeZ]

Thanks I'll ask that..

Yeah its mainlay for my debits..car, rent etc all comes off on the first and I often get paid late or not in full :/ painfull

 

[The_Ogre]

I think you need to talk to him. You're agreement states you're supposed to have the money in your hands (read cleared in your account) on the last working day of the month.

Also, I don't know of many places running debit orders on dates other than the 1st, 15th, 25th and last working day of the month. So it gives you even more of a headache to make sure you don't spend that money if you were to move your debit orders

 

[MeNeZ]

I think you need to talk to him. You're agreement states you're supposed to have the money in your hands (read cleared in your account) on the last working day of the month.

Yeah thats what I was pondering! Definately gonna have a chat*

 

[MeNeZ]

He said its not company policy to pay before the last day of the month :/

 

[PsyWulf]

1pm last day of the month isn't before the end of the month ^

 

[ToxicBunny]

If your contract states you will be paid on the 28th or the last working day of the month, then that means the money must be in your account and available to you on that day.

I get paid on the 28th, and my money is available by the time I wake up on the 28th without fail....

If he banks with Nedbank, he can do an instant transfer and it will appear in your account immediately.

 

[Sinbad]

Do Noddybank do immediate clearance now? They never used to.

 

[ToxicBunny]

They had it on their menu's for awhile.. and its on their charge sheet...

But just looking atm, I can't seem to find it.