In the last several years all deferal agencies seem to have adopted “Direct Deposit” of employees’ paychecks. I just recently started working as a census enumerator, mostly in the field. I would like to know: How long after my first one-week pay period should I expect to wait, to see if the payment has been entered in my account? My statement is prepared late in the month, and my bank charges me for each inquiry I make about any item deposited or withdrawn.
Even with direct deposit, they should be giving you a check stub (usually a voided copy of the check, but other options are used). The date on the stub/check is the date that they must have transferred the money into your account.
If you have a really nasty bank, the bank may make you wait for the three-day (or whatever) “clearance period,” but for direct deposit, even really greedy banks generally do not do this, since the money was clearly deposited in their bank through the Federal Reserve’s transfer system.
Tom~
I work for PPG Industries.We have no chouce but to use direct deposit. Our money (my wife works there too…) is available at 12:01AM on payday. I guess different banks have different rules. I have actually seen my money deposited much earlier than that (by using my teller 24 card and checking my balance). I use 12:01 as a general rule though.
Sex is like bridge: If you don’t have a good partner, you better have a good hand.
– Charles Pierce
My federal paycheck is deposited & available early Monday morning, even tho the official payday is Thursday. Wells Fargo give me free checking because I do DD. They also do not charge for inquiries made thru the automated 1-800 service. If your bank charges for these inquiries, or “holds” your DD pay until later, get a new bank. PS, WF is considered to have high-average fees out here, and is not a "discount’ bank. Many other banks offer the same deal.
At the federal agency where I work, we are paid once every two weeks. The timesheet with your hours worked has to get to payroll on the Monday after the end of the two weeks. The money is deposited in your account on that Friday.
Per Reg. CC, deposits through ACH (Automated Clearing House, which includes direct deposit) get immediate availability. A bank cannot legally place any hold on those funds as there is no float (clearing time).
Sig! Sig a Sog! Sig it loud! Sig it Strog! – Karen Carpenter with a head cold
This is moot now. I had my first payment deposited directly yesterday into my bank account, according to am ATM message I got. 