Checking the status of your direct deposit is as easy as viewing your account online, calling your credit union or bank, or visiting a local branch. Using your bank's resources, you can see if the money has been deposited into your checking or savings account, or if there's a pending deposit.
Simply log onto your bank account profile and look at your checking account or savings account history. Depending on when payment was sent, your money could come up as pending direct deposit in either one of these accounts. Go into your bank account history to check the status of your money.
With every transfer utilizing the Automated Clearing House (ACH) Network, there is a unique reference number called a trace number, which the Payment Center will call a Trace ID or ACH#. Trace IDs are used to “trace” funds to see where they are at any given banking institution.
There are several reasons you may not have received your direct deposit yet: Bank Processing Delays: Sometimes, banks may take longer to process direct deposits, especially if the deposit was made on a holiday or weekend. Employer Issues: Your employer may have encountered issues when processing payroll.
What time your direct deposit hits depends on the financial institution. Most recipients can expect their direct deposits to be available by 9 a.m. on payday, with many banks allowing funds to be released between midnight and 6 a.m. If your bank allows for the funds to be released sooner, you'll see them then.
There are different reasons a direct deposit could be unsuccessful: The routing and/or account numbers are incorrect. The account on file belongs to a different individual. The employee's bank account is closed.
Monitoring ACH Transfers
Trace numbers, found in the transaction details on your online banking platform, are key to this monitoring process. If a payment hasn't appeared within three days, contact your bank or perform an ACH trace number lookup to pinpoint the transaction's status.
Bank Customer Service: You can also call your bank's customer service phone number. Many banks have an automated line for their customers that allows you to check recent transactions, including deposits.
Generally, a bank must make the first $225 from the deposit available—for either cash withdrawal or check writing purposes—at the start of the next business day after the banking day that the deposit is made. The rest of the deposit should generally be available on the second business day.
Depending on the bank, you may see pending transactions near the top of your account summary or transaction list.
To view pending deposits, log in to the MyWisely® app 1 or mywisely.com. Any pending deposits will be included on the Home screen as well as the Recent Transactions screen. You are also able to view more information about the deposit, such as the amount, date expected to post, and source of the deposit.
You can check to see if a direct deposit is pending or has posted by signing in to your bank's mobile app or website. For paychecks and other employee payments, your human resource department should be able to provide information about a direct deposit's status.
Usually, you'll have access to your direct deposit at the opening of business on your payday — by 9 a.m. In many cases, direct deposits hit accounts even earlier, often between midnight and 6 a.m. on payday morning.
Direct deposits
Deposits appear in your Found account as soon as they are received, typically within 1-2 business days. At times, your deposit will appear as pending while it is reviewed.
Another reason your check or cash deposit may not be showing up as planned is that the bank put an exception hold on the funds, which allows it to hold the deposit for a period that is longer than the standard hold periods established under the law.
If you're ever in doubt about whether the money you deposited is available for use, you can simply contact your bank directly and ask. You can also check by visiting your bank's website, using your bank's mobile app or checking your available balance at an ATM.
ACH debits, such as bill pay or withdrawals, generally take 1-3 days to process, while ACH credits, such as direct deposits or vendor payments, generally take just one day to process. Same-day ACH, which typically requires an additional fee, processes the same business day.
If you know where the account was held, contact the bank or provider directly. If not, there are free services you can use. These use your details to track down any missing accounts on your behalf. If an account is found, you'll normally need ID to reclaim the money and any interest due.
A trace number is a fifteen-digit number assigned by the Originating Depositary Financial Institution (ODFI) to uniquely identify an Automated Clearing House entry. The first eight digits are the ODFI's routing number, and the last seven digits are the unique item number.
That said, if you haven't received your direct deposit, it could be for several reasons: Your employer entered an incorrect date when processing your payroll. Processing is taking longer than usual due to holidays (payday falling on a bank holiday often delays direct deposits).
Direct deposit does not process on bank holidays. If payday falls on a bank holiday, employees will not receive their direct deposit. Employees' direct deposits are delayed a day when payday falls on a bank holiday.
Your bank may hold the funds according to its funds availability policy. Or it may have placed an exception hold on the deposit. If the bank has placed a hold on the deposit, the bank generally should provide you with written notice of the hold.