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(All Payroll) Question about timing of Direct Deposit deposit timing.

Question Details:

Last week I ran a 'test' and set up one of my employees for direct deposit to try it out. I did it on Wednesday for Friday's payday. She received the deposit on THURSDAY! Payday isn't until Friday, so I didn't think that was right, and actually she and some other employees said they don't want to get it early! I thought if payday was Friday, that's when it would be deposited. Did I do something wrong?


Accepted Solution: 

The way ACH works the date send is the latest date the money should appear in the destination account.  However, if the recipient bank wants to they can credit the money early.  There's no way to stop that and no need to manage it.

Wells Fargo, for example, routinely makes DD funds available the night before.  Many larger banks that batch process all day long (instead of only nightly) move funds faster than is required.

Intuit cannot (no one else can either) force recipient banks to make money available on a specific date or time.  ACH transfers are requests that include a date (but not a time). Banks can make the money sent to them available early if they want to, and sometimes they are late due to their own internal issues.  There's nothing anyone can do to change this.


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