eli5, how does “get your paycheck 2 days sooner” work?
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The payroll system of a company typically notifies the banks of its employees about 2 days before payday of the amount that will be transferred. As a benefit to its customers, some banks will credit the money immediately to their customers’ accounts when they are notified that the transfer will take place even though it’s still in progress. Banks that don’t do this wait until the transfer process is complete and the money is already sitting in the account before crediting it and giving the customer access to use it.
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