Recruiters urged to communicate with financial partners to plan ahead this Christmas

Recruiters are being urged to plan ahead this Christmas and communicate fully with financial partners to avoid problems with BACS payments.

Paul Saunders, director of Lloyds TSB Recruitment Finance Division of Lloyds TSB Commercial Finance, says: “Because Christmas falls on a Thursday this year, all BACS payments for the week ending 21st December will need to be processed and completed on Monday 22nd in order for temps’ bank accounts to be credited before the Bank holiday.

Therefore, it is important for recruitment consultancies to plan ahead in order for the process to be quick and efficient. Financiers are going to be inundated with requests to bring payments forward, so you need to get your requirements agreed early. We began talking to clients about the need to plan ahead at the beginning of this month and would advise anyone who hasn’t spoken to their finance provider to do it immediately. After all, no one wants a BACS headache just before Christmas.”