why do banks need an extra day to process paychecks after ‘bank holidays’ when almost everything is automatic/digital?
In: 3758
Paychecks, at least in the US, run on the ACH system which relies on some manual checks for typos and fraud. This means that they can only get processed on business days. If the day they normally get processed is now a holiday, then it can’t get processed until the next business day
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