7shifts Payroll credit limits for 2-day processing

7shifts Payroll customers are subject to weekly credit limits on the amount of funds that can be processed using accelerated 2-day processing. These limits are mandated by our processing partner, Check Technologies, and are designed to support stable funding cycles and provide a secure processing experience for your business.

Things to know

• Credit limits set a maximum weekly amount of funds that a company can process using accelerated 2-day processing.
• The standard weekly credit limit for a company is $200,000.
• If 7shifts Payroll identifies that a payroll run will exceed the weekly limit, a warning appears during the payroll preview and an error occurs upon approval.
• If a company experiences a failed funding (NSF), 7shifts Payroll downgrades the account to the starting credit limit.

Credit limit increase criteria

Companies may be automatically approved for an increased weekly credit limit of $350,000 if they meet specific eligibility requirements.

• The company must be active on 7shifts Payroll for at least 3 months.
• The company must have successfully completed 10 payroll runs.
• The company must have no failed fundings (NSF) within the last 90 days.

Options when exceeding credit limits

If a payroll run exceeds the $200,000 weekly limit, you must select an alternative funding or processing method to complete the payroll run.

• Switch the payroll run to 3-day processing to bypass accelerated funding limits.
• Fund the payroll run by wire transfer to ensure employees are paid on time.
• Mark specific payments as manually paid if you are issuing funds outside of 7shifts Payroll.

Steps to choose alternative funding or processing method

1. Click Update payment method from the warning banner in the payroll preview.

2. Choose Wire transfer (same day) or ACH (3-day processing) and click Save.
   

3. Submit the payroll run.

4. If Wire transfer is selected, review the wire transfer details provided and ensure funds are received by 4:00 PM ET for same-day processing. Wire transfer details can also be viewed from the Payroll History view next to the desired Payroll. 

Same-day wire transfers

7shifts Payroll supports same-day payments for payroll runs funded by wire transfer. This allows you to meet payment deadlines even if you have exceeded your weekly credit limit.

• You must approve the payroll run and initiate the wire transfer before 4:00 PM ET for same-day processing.
• Wire transfers allow you to exceed the standard $200,000 weekly limit because the funds are guaranteed.