Question

PrimePay debits the employer's bank account on which day for direct deposit funds?

a) Payday
b) One day before payday
c) The last day of the month
d) First day of the month

Answer 1

PrimePay typically debits an employer's account before payday to ensure direct deposit funds are transferred on time, but the exact timing can depend on the payroll service and employer's schedule.

Step-by-step explanation:

The timing of when PrimePay debits an employer's bank account for direct deposit funds typically aligns with the payroll processing timelines established by the company. However, it's not specified in the question and can vary based on the payroll service's policies and the employer's payroll schedule. Typically, payroll companies require funds to be available a few days before the actual payday to ensure a successful transfer of funds to the employees' accounts on payday. A common practice, although not universal, is to debit the employer's account one banking day prior to payday.