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Q:

What is the Cycle Day 2 date?

A:

This is the date of the day before the credit is due with the customer. It should be a normal bank working day. If the file is submitted after the 2.00pm cutoff* then the date will “roll forward” to the next working day.

An example of the processing cycle is given below. In this example 13 March is a Saturday, 14 March is a Sunday and 17 March is a Bank Holiday:

Submission Date Cycle Day 2 Date Payment Date
Tuesday 9 March, 1.00pm Tuesday 9 March Wednesday 10 March
Tuesday 9 March, 3.00pm Tuesday 9 March Thursday 11 March
Friday 12 March, 1.00pm Friday 12 March Monday 15 March
Friday 12 March, 3.00pm Friday 12 March Tuesday 16 March
Tuesday 16 March, 1.00pm Tuesday 16 March Thursday 18 March
Tuesday 16 March, 3.00pm Tuesday 16 March Friday 19 March

*provided the file is within the agreed credit limit.

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