For direct deposit under normal circumstances, what are banks generally required to do after receiving funds from the ACH network?
Answer
Make the funds available by the next business day.
Banks are typically required to make direct deposit funds available to the employee by the next business day following the day they received the funds through the ACH system.
Related Questions
Will a direct deposit scheduled for a Sunday almost universally hit the account that day?What network dictates the timing for most electronic direct deposit transactions?If a scheduled payday falls on a Sunday, what adjustment is the most common practice if Monday is a regular business day?If a scheduled payday is a Sunday and the subsequent Monday is a recognized federal holiday, when will the funds typically post?What aspect of the ACH network causes it to pause operations?Which federal act dictates specific pay frequencies and rules for handling payments that fall on a weekend or holiday?When an employer needs to pay employees on a mid-week federal holiday payday, which is one of the three general paths they might choose?What key difference impacts when an employee sees their direct deposit funds versus when the official transfer is processed?What is the best actionable step for an employee to understand how their specific company handles weekend paydays?For direct deposit under normal circumstances, what are banks generally required to do after receiving funds from the ACH network?