President's Day
Presidents’ Day Payroll Reminder: Submit Early to Avoid Delays
Monday, February 16, is Presidents’ Day – a federal banking holiday. Since the Federal Reserve doesn’t process ACH payments on federal holidays, direct deposit payrolls could be delayed if they’re not submitted in advance. If your payday falls on or shortly after this holiday, it’s important to make adjustments ahead of time.
If you typically pay employees on Monday, February 16, you’ll need to move the check date to Friday, February 13, and submit your payroll by Wednesday, February 11.
For paydays on Tuesday, February 17, the check date can remain the same, but payroll must be submitted a day earlier to ensure timely payment.
Note: The guidance below is based on a 2-day turnaround. If your account uses a 4-day processing schedule, payroll should be submitted no later than Monday, February 9. See below for full deadlines.
*Beyond’s banking submission cut-off is 11:30 PM ET. Payrolls submitted after this time will be processed the next business day. Submissions made on a holiday are still valid if completed before the cutoff.
** Although Monday, February 16 is a federal banking holiday, payroll may still be submitted on this date before 11:30 PM ET without affecting processing time.