If a scheduled payday falls on a weekend or federal holiday, when will the electronic transfer typically post?
Answer
On the immediately preceding business day.
If the scheduled payday is a weekend or a federal holiday, the electronic transfer will almost always post on the business day immediately before that day off because banking systems do not process transfers on non-business days.
Related Questions
How many paychecks does a bi-weekly payment schedule typically yield per year?What unique feature does the bi-weekly schedule offer regarding paycheck frequency annually?Why is the first paycheck often delayed for new employees?What work is excluded from a check being prepared based on the payroll cutoff date?What factor primarily determines when direct deposit funds become accessible to the employee?If a scheduled payday falls on a weekend or federal holiday, when will the electronic transfer typically post?Which payment schedule involves receiving payment twice a month on fixed dates, totaling 24 checks per year?What might the first paycheck for a salaried worker sometimes cover?Which of the following steps occurs during payroll processing before generating the net pay figure?What is the most effective action an employee can take to avoid surprises regarding payment timing?