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Any direct deposit with a $100,000 single individual and/or a combination of direct deposit and taxes totalling over $500,000 per pay cycle will automatically be scheduled for a wire transfer. When this happens, additional wiring instructions will be provided when processing your payroll in Wagepoint.
- If Judd had a net pay of $100,000 and Ralph had $50,000, a wire would be required for the $150,000.
- If Judd had a net pay of $75,000 and Ralph had $50,000, no wire is required.
- If Judd had a net pay of $75,000 and Ralph had $50,000 and $400,000 in taxes, a wire will be required for the $525,000.
- If 10 employees all have a net pay of $50,000, a wire would be required for the $500,000.
To avoid the wire, six (6) business days are required between the payroll process finalization date and the pay date.
We’re here to help.
The best way to reach us is by submitting a ticket from within Wagepoint. You can also reach us by email at email@example.com.