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My company issues paper checks for employees on Tuesday with a pay date of Friday.?
I have elected for direct deposit. Do companies generally transfer the funds the same day they cut the checks? This is all being handled by ADP. I know the funds will not be available until the actual pay date, just curious if it would be the same day.
Ok, I know when the funds will be available. Just trying to figure out when the actual transfer occurs. I was under the impression that transfers needed to be done 48 hrs before the funds were to be released. Your bank will not actually release them until your pay*date* but they are on hold at your bank.
My company has messed my last two payroll checks up by mailing a paper check and not the actual deposit. My bank should have visibility to the deposit by now and relay to me that I will in fact be paid on payday...and not a week later like the past two times...
- Anonymous1 decade agoFavorite Answer
Ask your payroll department. With Direct Deposit, though, the funds should be available immediately. Ask your bank about that part.
- Anonymous1 decade ago
your money will be in your account first thing Friday morning - it saves you a trip to the bank