Bank - Direct Deposit (pay, transfer, suing, credit)
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I'm not a banker though I strongly believe that they use our money as long as they can for their own (interest earning) purposes. Holidays seem to be really welcome to that extend.
I'm not a banker though I strongly believe that they use our money as long as they can for their own (interest earning) purposes. Holidays seem to be really welcome to that extend.
But if you go in on Friday and kite your own check, its a felony.
It's not just direct deposit. Payouts for credit card merchants are typically also delayed due to a holiday/weekend, as well as postings on credit card accounts. Even though it is electronic, often transactions have to be initiated and approved by a human. I know at the organization I work for, our payroll manager has to 'push through' the batch for direct deposit payments--it's not 100% automated.
I always get my direct deposit early , before the holidays. I thought that was the norm.
Me too. Then again we normally have access to our money from Midnight Thursday for a Friday payday. Meaning that even though I don't get paid till Friday, on Thusday morning I allready have my money. One time there was a problem with the system and our Payroll department kindly informed us that they didn't have to pay us till Friday.
Human intervention is required to verify and sign off the spreadsheet from the company issuing the payroll. Then another person during bank hours needs to press the send key once approval is given. The rules will vary from state to state due to state laws. After this the computers take over and wait until midnight to issue the transfer in order to maximize interest in the acct.
I always get my direct deposit early , before the holidays. I thought that was the norm.
Me, too. We must work for companies who see payday as a "deadline" and not the first day to pay employees (as is the case if one is being paid after the holiday due to dd lag).
Because the Fed is closed on a holiday so transactions aren't accepted for that day.
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