Introducing FedNow: The Fed’s new direct deposit service
BMT Office Administration
AUGUST 4, 2023
You send the payroll file to your bank a few days before payday and your bank sends files through the ACH network to employees’ banks. Whether they can access their pay before payday is up to their banks. Eastern time; employees’ banks receive files by noon; transactions settle by 1:00 p.m.;
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