Wednesday, 7 December 2016

Don't get caught short this Christmas...

Image result for christmas money uk

Eazipay are advising all their clients to plan ahead for the festive season, so they avoid missing or delaying any payments over the festive season.

This year is a little different as Christmas falls on a non-processing day, meaning that this year the 27th December is also a Bank Holiday. This means that the first day after Christmas for payment processing is Wednesday the 28th December.

If you are making payments via Direct Credit or collecting via Direct Debit then files need to be processed no later than midday on Thursday 22nd December in order for the payment to go through on the 28th. 

It is just the same with New Year too. New Year's Day falls on a Sunday, so Monday the 2nd of January is a Bank Holiday, meaning it is a non-processing day. Therefore, to have payments credited or debited on Tuesday 3rd January, files need to be with Eazipay by midday on the 29th December at the latest.

Luisa Grey, Eazipay's Operations Director said "We have seen in previous years that some people don't take the non-processing days into account, and that can result in some real problems. If companies plan ahead a little then staff and suppliers can be paid on time."

Perhaps for SME's Cash Flow is the most important part of the process. Luisa added "Companies rely on their money being in their account when they need it. Not planning for the non-processing days could mean life or death for some businesses."

So Eazipay are hoping that with some simple planning everyone can have a Happy, cash flow positive, Christmas.
Image result for christmas money uk

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