I get paid semi monthly. Usually I can expect to see my check on the actual payday, with my paystub showing the night before.
I got an email from my bank saying they will start showing deposits three days earlier now.
How does this work if payroll doesn’t pay out until specific days?
In: Other
You owe 30 friends money. Five of them are in class with you and 25 of them are in another class but ride the bus home with a good friend of yours in your class. You give that kid the money you owe and tell him that, so it doesn’t appear you paid some people before others, to make sure that he pays everyone at the same time.
He gets on the bus and is sitting near 10 people. 10 more are at the other end of the bus and it looks like 5 aren’t there that day but he knows where they live. Because he’s got the money and those kids are just right there, he goes ahead and pays them and then starts working his way to the other end of the bus. He gets there and pays the other 10. When he gets off the bus, he passes the houses of the remaining 5, knocks on the door, and gives them their money directly.
Banking is the same. Different banks have different access to the fed system and different internal processes established to handle payments. They also have no control when they receive the funds so there will be some variation from time to time or even between banks especially when a 3rd party payroll company is involved.
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