Where a Bank Holiday falls on a Monday, calculations will run one business day earlier (i.e. Friday).This means that adviser charge fees will be calculated for Tuesday-Friday (and not Tuesday-Monday as usual) and statements will be generated on Saturday morning. BACS payments will be triggered on the Tuesday following the Bank Holiday Monday, as usual, and paid from Thursday to adviser bank accounts.
The following week’s remuneration calculation and statement run will therefore cover the period Saturday (before the Bank Holiday) to the following Monday due to the previous week’s truncated calculation. BACS files will be triggered on the Tuesday for payment from Thursday as normal.