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23 March 2013 | Anna Reynolds
UK businesses have been warned to plan in advance to avoid missing crucial payments over the Easter bank holiday weekend.
Bacs Payment Schemes has reminded companies which routinely pay or collect using an automated system to ensure they allow for the extra non-processing days caused by the upcoming bank holidays.
The Easter weekend, 29 March – 1 April, together with the spring bank holidays in May means payments will need to be submitted earlier to avoid leaving customers, suppliers and staff waiting for pay.
Mike Hutchinson, head of marketing at Bacs, stressed: “Automated payments are not processed on bank holidays so we are urging finance departments to make sure that essential payments and collections are not delayed over the Easter break by the extra days of holiday.”
To ensure companies do not miss any important processing dates during 2013, Bacs has created a calendar which can be downloaded by clicking here.