We understand that in the fast-paced world of payroll, timing is everything. To provide greater flexibility and speed, we’re excited to introduce a new prefunding option—instant payments. With this feature, you can now fund your payroll quickly because it offers a faster alternative to traditional ACH clearance timing and costs less than bank wires.
What is Prefunding with Instant Payments?
Prefunding with instant payments means you send money ahead of running payroll using the RTPⓇ Network. Once we receive the funds, they are applied to your account and you will see a prefunded balance with the amount of the payment you sent.
Prefunding payroll with instant payments are ideal when:
- You’ve sent a wire but did not complete the payroll before the 3 PM payroll run deadline for wires
- You’ve completed a payroll and sent a wire but it was not run as a wire payroll
- You’re a normal direct deposit customer facing a time crunch and can’t wait for ACH clearing times
- You’re a “prefund” customer who has exceeded your funded payroll amount
With instant payments, you no longer need to worry about whether the funds will clear in time—giving you peace of mind your employees get paid as early as the next banking day.
Read our help article for more information “Run Payroll Today: Prefunding with Bank Wire or Instant Payments.”
