If you want your payroll department to start processing your direct deposit payments, you will need to give them the paperwork you need to set up direct deposits. The hold will take effect the following business day for deposits made on weekends because money is regarded to have been made on Monday (the first working day) (Tuesday).Īlthough the procedure is rapid, depending on when the issuer makes the payment, it may take longer for the money to show up in your account. In general, it takes 2 to 5 working days for a direct deposit to become effective. All products are presented without warranty.ĭirect deposits are one of the quickest ways to transfer money. Learn more about how we review products and read our advertiser disclosure for how we make money. While we work hard to provide accurate and up to date information that we think you will find relevant, The Smart Investor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impacts any of the editorial content on The Smart Investor. This allows us to maintain a full-time, editorial staff and work with finance experts you know and trust. This website may use other proprietary factors to impact card offer listings on the website such as consumer selection or the likelihood of the applicant’s credit approval.

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