Direct Deposit on July 4?

Question

I work for Old Navy (Gap Inc.) and I have direct deposit. I signed up for it the tuesday before our last paychecks came in. Everyone at work already got their checks put into their accounts except for me and the GM. I checked the website and looked at my paystub and it says it was directly deposited but it's just not showing up in my acct yet. Could July 4th have affected it? Should it be there first thing in the morning?

Answer 1

The money may have been sent by the bank that handles the payroll disbursements, however if it was processed late Tues it might not have gone through the Federal Reserve (as all electronic money transfers do) and since they are closed for the holiday today it probably will not show up in your account till tomorrow. It should be there first thing as all transfers done after 6pm EST (when the Fed closes) are processed first. If it doesnt show up by mid-morning, definitely get in touch with your personnel dept.

Answer 2

I would agree that your direct deposit is probably too new yet.

I've used it for years, and I've always had my money applied like at 12:01AM on payday--the bank may be closed, but their computers aren't.

On the other hand, I have heard of where people go to smaller credit unions for their accounts, and for some reason, it sometimes takes them longer to get their money.

If you're with a large bank though, that shouldn't happen.

Answer 3

My husband has direct deposit and he gets paid either the day before or after on major holidays.
But because the direct deposit is so new, it might be acting up and go through tomorrow. If it isn't there by tomorrow afternoon, talk to your job and your bank.

Answer 4

Banks are closed today - check tomorrow

Answer 5

CHECK NEXT DAY IT WILL SHOW IN UR ACCT.