Wire transfer for large payroll

Devon from Wagepoint
Devon from Wagepoint
  • Updated

When a payroll will be larger than normal, we may require the company to wire the funds instead of pre-authorized debit. This is determined on a case by case basis, ensuring that funds are received in time for employee deposits and preventing any non-sufficient funds (NSFs).

  • When a payroll is larger than normal, an alert will display on Step 2. Hours and incomes of the payroll process. The alert is triggered by the total gross amount of the payroll. Click See wire transfer details in the alert to see the wire information.
    Note: If changes are made to bring the gross payroll down to a lower amount, the alert will disappear.
  • Complete the payroll process as usual. A ticket will be created and sent to our Risk and Compliance team to review. You will be contacted by the Risk and Compliance team if they determine that a wire will be required. 

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