Wire Transfer Requirements For Large Payrolls In The US

November 8, 2021 Mel Ly

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.

For example:

  • 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 us_support@wagepoint.com.

Want to learn more? 

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About the Author

Mel Ly

Mel is a Brand, Content and Communications Lead at Wagepoint with a keen interest in Wellness, People & Culture and the Employee Experience. When she isn't writing, she spends her time dog mom-ing, sipping on lattes and researching into different personality frameworks.

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