Premier Payroll Direct Deposit Policy
At Premier Payroll, we are committed to ensuring the timely and accurate processing of payroll for our clients. To maintain smooth operations and guarantee on-time direct deposit payments, the following lead-time policy applies to all new clients.
Payroll Processing Lead-Time
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For the first three months, all payrolls must be submitted and approved 5 business days prior to the scheduled pay date to allow sufficient time for processing and direct deposit execution.
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After three months of successful payroll processing, payrolls can be submitted 3 business days prior to the scheduled pay date.
Exceptions to the 5-Day Lead-Time
Premier Payroll offers flexibility under the following circumstances:
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Wire Transfer of Funds:
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If funds covering the total payroll amount are wired directly to Premier Payroll before payroll processing begins, the 5-day lead-time requirement may be waived.
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Deposit Submission:
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Clients may submit a deposit equal to their total average payroll cost before the first payroll is processed. This deposit will serve as a security reserve to facilitate timely payroll processing.
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Additional Considerations
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Premier Payroll will review and assess client payroll needs during the onboarding process to determine the appropriate average payroll cost for the deposit.
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Failure to meet the lead-time requirements or provide the necessary deposit may result in delayed payroll processing and/or direct deposits.
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Clients are encouraged to plan accordingly and communicate any payroll changes as early as possible to avoid disruptions.
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In the event that a payroll is rejected due to non-sufficient funds, clients will be automatically changed to a 5 business day lead time unless a wire is sent to cover future payrolls, or a deposit equal to the total average payroll cost is provided.
For any questions or further clarification, please contact your Premier Payroll representative.
Thank you for partnering with Premier Payroll. We value your trust and are committed to supporting your payroll needs efficiently.