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Payroll is done with ACH, not wire transfer. ACH is reversible so it has fewer controls. Wires are not (generally) reversable.
by TedDoesntTalk 3y ago
Payroll is done with ACH, not wire transfer. ACH is reversible so it has fewer controls. Wires are not (generally) reversable.
- tsunamifury 3y agoTechnical Protocol doesn’t matter we’re talking approval and liquidity here. ACH/Wire same dif.
- JumpCrisscross 3y ago> Payroll is done with ACH, not wire transfer For large payrolls, it would be done over wire (between the employer and payroll processor). The employer has leverage and wants to keep the float.
- kasey_junk 3y agoYou’d have to be a _very_ large payroll to have leverage over adp. For many payroll operations between big employers and payroll processors it’s an inner bank ledger transfer as the big payroll processors have good reason to maintain accounts at many banks. Vice versa is also true. If you have a very large payroll your treasury team is not put out by having accounts at lots of banks.
- JumpCrisscross 3y ago> it’s an inner bank ledger transfer This is common. But so are wires.