When is payday
Currently there are many payday loans that are due on different times of the month.
In the UK, paydays typically vary. Some generate payrolls at regular intervals to suit and benefit the right regular income for their employees.
The regular intervals (when is payday) varies from company to company and at times, between different job roles within the company you work in.
The common payday payroll frequencies are:
- Daily – every 28,30,31 days in a month – payment every day.
- Weekly – Four weeks in a month, payment made usually at the beginning or end of the week and most of the time, it falls on a weekday.
- Bi-weekly/Fortnightly – Twice per month. Once every two weeks. Payday payments made at the end of every two weeks.
- End on the month – Once a month. Usually payday is on a weekday either on the 21st, 25th, 28th, 30th or 31st.
- Specific day on the month – A specific payday date set by the company itself and this date can dated at the discretion which ever benefits their payroll or employee
- 4-weekly (13 times a year) – payday once a month same as ‘end of the month’ frequency
- Bi-monthly – payday payment made once every two months.
- Quarterly – Payday once every 13 weeks,
- Semi-Annually – Payday twice annually.
So the question, When is Payday? Well, we have outlined all payday frequencies. The time sets for payment into your bank can also vary.
Payroll may use different payment types to fund your bank account, from Direct Deposit (bank transfers) , Checks and Cash.
Although when your payday could be soon, the type of payment method used may increase the time when you get paid.
Cash are instant, Checks can take up to 10 days to clear and a direct deposit payment is usually instant. Direct deposits may be paid at different times on the day of your payday. Times can be at midnight, 2am, 6am, 9:30am or anytime during the day.
As payment methods vary, the time for anyone to actually receive cleared funds into the bank can be more than the frequency selected to pay.
Apply for payday here, if you know when is payday, enter is here on our quick easy form.
