Tuesday, May 25, 2010

When will the direct deposit show up in my checking account?

If payday is on a Monday will the money show up on Saturday since it is deposited on Monday night officially anyway?
When will the direct deposit show up in my checking account?
It really depends upon the banking practices of the employer.





You should never "count on" it showing up until 2pm on the day it is due (Monday, in this case), because neither the bank nor the employer have an obligation before that time. If they have a delay or complications and you cut it too close, you are going to suffer the consequences, not them.





That said, direct deposits often post the day before if the employer transmits in a typical pattern (with plenty of lead time), esp. if you use a large bank or the same bank. Keep in mind that "a day before" might mean 24hrs before or 11:45pm. Depending on the bank, this may not apply over a weekend.
Reply:Usually by the next Business Day. i.e., the next Monday-Friday that is not a holiday.

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