Changes to Funding Payrolls by Wire

We have made several changes to processing timing and statuses for payrolls that are funded by wire:

1. The approval deadline for all payrolls funded by wire is now 4pm ET on payday, updated from 5pm ET the day before payday. This allows you the ability to create and approve payrolls with same-day payments if they are funded via wire. Note: if a wire payment is received by 5pm ET the day before payday, payments settle in employees’ bank accounts on the morning of payday; otherwise, they will settle by 6pm ET on payday.

2. Payrolls funded by wire will remain in a “pending” status until the wire is received, rather than transition immediately into “processing.” This means they can be reopened until the wire is received.

3. Payrolls funded by wire will move to a “failed” status if the wire is not received by the approval deadline. This does not create a failed funding strike for the employer, but will prevent the approval of additional payrolls until the payroll is funded or voided.

4. An updated fund by wire modal allows you to select a payday for payrolls funded by wire before approving payrolls.

These changes offer partners and employers greater flexibility and clarity when processing payrolls funded by wire. For more information about funding payrolls by wire, refer to our Fund by Wire guide.