When can employees expect their payroll deposits on payday?

Updated December 17, 2024 15:05

Question

Answer

Employees can generally expect their payroll deposits sometime in the morning on payday, but the exact timing depends on several factors including but not limited to:

Timely Payroll Approval
- If payroll is approved/submitted on time, deposits are usually processed without delays.
- Delays may occur if payroll is not approved on time or due to external factors, such as banking provider issues or holiday-related processing backlogs. These delays can extend deposit times to as late as 5:00 PM local time.
Instant Payments: If an instant payment method is used (supported by a limited number of banks), deposits typically settle between 8:00 AM and 8:30 AM ET on payday.
- Note: Instant payments refer to those processed through the RTP (Real-Time Payments) or FedNow networks.