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400,000 may not get paid

March 30, 2007 by admin  
Filed under News, News-Banking

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Hundreds of thousands of people may not receive their wages on March 30th because of a problem with the Bacs payment system.

The entire banking and payments industry is extending a sincere apology to those affected by this, through Apacs, the UK payments association.

As many as 400,000 people are likely to be affected by what is being called a software glitch which has caused the system to work more slowly than usual.

Banks up and down the country have been made aware of the problems and, according to Apacs, are working together with businesses to make sure that payments are made as soon as possible.

Apacs has stated that it expects everyone who has been affected to receive their next set of wages by Monday April 2nd.

Some customers are likely to be unable to withdraw money from their over the weekend if they are relying on these wages for cash.

Customers are being told to contact their bank to ensure that any standing orders, direct debits or other payments will be made.

It is also worth contacting your bank to see if charges for going overdrawn as a result of the error will be levied against you.

Tags: bank accounts, UK payments, BACS, cash customers, error, finance

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