Comment by orf
3 years ago
Welcome to 2002 I guess? I’m surprised you couldn’t already do this.
What happens when you get paid? It comes several days later?
3 years ago
Welcome to 2002 I guess? I’m surprised you couldn’t already do this.
What happens when you get paid? It comes several days later?
Yes, that’s the current state of affairs. My bank receives the money in my account from my employer’s bank but it takes a couple days to clear. Right now many banks will make this money available to you right away rather than waiting for it to clear.
I assume you are being snippy, but to actually answer the question: Kinda - if you are paid on Fridays then payroll is submitted on Tuesday or Wednesday.
No I’m genuinely asking. You get paid at the end of the month, but it actually arrives in your bank 4 or 5 days later?
Yes. Or the entity doing the payment initiates it a few days earlier to ensure timely arrival.
ACH is generally overnight. I don't know the internals, but if I get paid on Friday, I actually get the money in my account on Friday. Perhaps they actually send it a day or two early.
No. In my case it'd be same days (15th and 1st) as paydays, or earlier if the payday falls in the weekend or holidays.