Salary Payment Advice (BACS Transfer)
Discussion
I am wondering what are the terms of a BACS transfer. I have recieved an additional salry payment from my Employer only 3 days after my previous salary.
The company are aware of the issue, and it has affected 11,000 employees.
Are my employers able to get this back out of my account? It was credited this morning (4th March).
I am asking this because if they are unable to request the money back from my account i am going to transfer onto my mortgage account, so i can gain a small interest reduction over the next month on my mortgage.
Overal the company has noticed a rediction in its bank account by £25 Million this morning. And were recieving a lot of call from staff on why they have got paid again. Only then did the Finance and HR director relise the state of the problem. I have advised my Team to Keep the cash in there accounts and not to spend this as the comapny may request this back.
I just want to save a bit on my mortgage interest if i can. But i know that i will probably not recieve a salary payment on the 1st April.
Oh well another item of our SAP system gone wrong only 4 days after it has gone Live.
The company are aware of the issue, and it has affected 11,000 employees.
Are my employers able to get this back out of my account? It was credited this morning (4th March).
I am asking this because if they are unable to request the money back from my account i am going to transfer onto my mortgage account, so i can gain a small interest reduction over the next month on my mortgage.
Overal the company has noticed a rediction in its bank account by £25 Million this morning. And were recieving a lot of call from staff on why they have got paid again. Only then did the Finance and HR director relise the state of the problem. I have advised my Team to Keep the cash in there accounts and not to spend this as the comapny may request this back.
I just want to save a bit on my mortgage interest if i can. But i know that i will probably not recieve a salary payment on the 1st April.
Oh well another item of our SAP system gone wrong only 4 days after it has gone Live.
Running the payroll payment run twice is a serious f
kup. That's going to be human error, you can't blame this one on SAP ;-)
ETA, at my last employer they paid me twice for some expenses and it was withdrawn from my account. Payment was via BACS so if it's still the same then it can be taken out (this was in 2007).
kup. That's going to be human error, you can't blame this one on SAP ;-)ETA, at my last employer they paid me twice for some expenses and it was withdrawn from my account. Payment was via BACS so if it's still the same then it can be taken out (this was in 2007).
Edited by bga on Thursday 4th March 12:27
swerni said:
Yes they can get it back.
The will just do a reverse BACS transfer.
If I were you I would leave it where it is.
It is stuck there doing nothing for me at the moment.. I wanted to see before i did more the cash around to make it work better for me! It would have given me a fee more £££ of my mortgage interest for the next month or so!The will just do a reverse BACS transfer.
If I were you I would leave it where it is.
I have had an email from the Finance & HR director. They are unsure of what to do as it has affected 11,000 people. So far they have not recalled the moneys. But are taking to MAnagers to see what the best options should be.
So far the ideas are that the 1st April Salary will not be paid and the moeny will remain in our accounts as is.
So far the ideas are that the 1st April Salary will not be paid and the moeny will remain in our accounts as is.
swerni said:
stevieb said:
swerni said:
Yes they can get it back.
The will just do a reverse BACS transfer.
If I were you I would leave it where it is.
It is stuck there doing nothing for me at the moment.. I wanted to see before i did more the cash around to make it work better for me! It would have given me a fee more £££ of my mortgage interest for the next month or so!The will just do a reverse BACS transfer.
If I were you I would leave it where it is.
The reality is the payment can be reversed very quickly.
If you withdraw funds that you know aren't yours it is also fraudulent.
Don't mess around with it, it isn't yours to move around.
As discussed - they can take it back (at least in the very near term). Don't do anything until you get another email.
The directors need to make a swift decision. Its a lot of money. In view of the large number involved a recall would be easier. Trying to deduct the overpayment from next months salary could cause a hell of a lot of work, although this other option would be better HR policy in my opinion.
The directors need to make a swift decision. Its a lot of money. In view of the large number involved a recall would be easier. Trying to deduct the overpayment from next months salary could cause a hell of a lot of work, although this other option would be better HR policy in my opinion.
Hr/Finance dont seem to have a clue.. The SAP migration Team are compeletly clueless. So It ill just stay in the account untouched until they decide what they are going to do..
I am still waiting for someone to get the boot for this big cockup.. At least it prove the system works for when the first paymetn run is done. Thats a bonus, that bit failed for WSAtkins a while back an no one got paid for 3 month, and the company nearly went under...
I am still waiting for someone to get the boot for this big cockup.. At least it prove the system works for when the first paymetn run is done. Thats a bonus, that bit failed for WSAtkins a while back an no one got paid for 3 month, and the company nearly went under...
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