Are you expecting a payment from Encore during May or August? Wondering why it's taking longer to process than usual? This could be a result of bank holidays, which sometimes cause delays in business transaction processing.
Why don't all Encore Payments appear instantly? 🤔
Encore sends your deposit payouts one day after the gig is booked, and your remaining fees one day after the gig.
On business transactions (refunds from retailers, business-to-business transfers, Encore payments) UK banks still require some processing time. This time is used for verifying sums, conversions, security checks and more.
Since these business transactions rely on checks from both Encore's bank and your own bank, payments we send can take between 3-5 working days to appear on your end after we've sent it.
Bank holidays causing delays 🏦
Around bank holidays, we'll still send your fees on time, but 3-5 working days for banks is longer than usual since they have an extra week day not working.
We've also sometimes spotted banks' manual processing time increasing due to queues from long weekends.
So, annoyingly, the week after a bank holiday can be impacted as well as the week of!
This can vary on demand, the time the payment was made and the banks involved at either end.
Your payment is still secure 🤝
So if your money doesn't arrive when you're expecting it, don't worry.
Your money is still secure, and we haven't forgotten to send it - it's just in transit 🙏
Thanks for your understanding, and sorry that we don't have more control over this!
Happy gigging! 🎶
Upcoming bank holidays in 2023:
- Mon 1st May Early May bank holiday
- Mon 8th May Coronation of King Charles III
- Mon 29th May Spring bank holiday
- Mon 28th August Summer bank holiday