Direct deposit makes paying your workers easier for you, and them, by having OnPay deposit the funds in the employee's accounts on pay day! You can still print checks and distribute them to your workers, as needed. You can even decide when running payroll who's paid by direct deposit and who gets a physical check. And you won't need separate pay runs!
What we'll cover
If you are just starting with OnPay, you'll receive an email from our new accounts team. When you reply to the email, let us know that you're interested in direct deposit, and we'll handle it during the setup process.
Note: It can take 1-2 business days to complete the direct deposit setup.
Verifying your bank account
After you apply, we'll notify you that we've made a credit and two small offsetting debits to the bank account you enrolled with. When you do see these amounts, you can proceed with verifying the account. Enter the debit/credit amounts found in your bank account in My Company> Company Bank Account. Need help? Follow these instructions for how to verify your bank account.
Risk assessment and deposit turnaround
Once you've verified your bank account, our Automated Clearing House (ACH) team will perform a risk assessment. This will determine your company's approval for direct deposit. If approved, we'll email you confirming your turnaround (2-4 days based on risk assessment). In some instances, you may be approved for Wire Only or Reverse Wire Only.
Run payroll on Wednesday by 11:30 PM EST and direct deposit goes in that Friday morning.
Run payroll on Monday by 11:30 PM EST and direct deposit goes in that Friday morning.
Note: You can schedule your pay runs in advance. Learn more about pay schedules.
For companies with very large payroll amounts, we may require that you wire the direct deposit and/or tax funds in order to process your payrolls.
Reverse Wire Only
For some companies, we may require that you authorize OnPay to perform a reverse-wire, or drawdown request from your bank account in order to process your payrolls.
Once you are approved, you can add direct deposit information to your employees.
Your approval status may be reevaluated every 6-months, by our ACH team upon request. If you receive an approval that doesn't fit your needs, please contact us at email@example.com so we can discuss other options with you!
Note: Not all clients are approved for direct deposit. Any data entry mistakes by the employer resulting in misapplied deposits or NSF fees will be the sole responsibility of the employer.