Thanksgiving Check-In: Will Huntington Process Paychecks During The Holiday?

If you are a Huntington checking customer with direct deposit, you can get your pay up to two days early with Early Pay. This free service is automatic and requires no sign-up. If you qualify, you will automatically receive your pay early. However, it may take up to 90 days to identify which recurring direct deposits are eligible for Early Pay.

If payday falls on a bank holiday, employees will have to wait until the next business day to access their wages unless the employer takes action and runs payroll one business day earlier. Bank holidays can also impact payroll if they fall at any point between the normal payroll processing day and payday.

To avoid paying employees late, it is important to be familiar with federal bank holidays. In 2023 and 2024, the bank holidays are:

- Martin Luther King Jr. Day

- Washington's Birthday / Presidents' Day

- Juneteenth National Independence Day

- November 11 (Saturday)

- November 23 (Thursday)

- November 28 (Thursday)

- December 25 (Wednesday)

If payday falls on a bank holiday, employers have a few options:

- Run payroll earlier: Pay a fee so employees can receive their paycheck before the holiday.

- Delay the payroll process: Pay employees the day after the bank holiday.

- Run payroll as usual: Employees will receive their payment within the next business days after the holiday.

Huntington's Early Pay service

Introducing Huntington's Early Pay Service

To take advantage of Early Pay, you'll need to have a Huntington checking account with direct deposit enabled. Direct deposit offers its own benefits, such as added convenience and quicker access to your funds. Once you've set up direct deposit, there's no need to sign up or enrol for Early Pay separately. Huntington will automatically enrol you in the service once they receive your direct deposit information. You will receive an alert notifying you of your enrolment, and you can also set up additional alerts to stay informed about each early deposit.

Eligibility and Timing

To be eligible for Early Pay, you must have a checking account with Huntington, provide a valid email address, and have a recurring qualifying direct deposit. It may take up to 90 days to identify which deposits qualify for Early Pay. While Huntington aims to provide this service consistently, they cannot guarantee it due to potential unanticipated circumstances. However, there are no fees associated with Early Pay, and you can opt out at any time by contacting Huntington's customer service.

Direct Deposit Setup

Setting up direct deposit is straightforward. You'll need to fill out a Direct Deposit Form and provide a voided check, if requested by your employer. Then, submit the form to your employer's HR department. Direct deposit gives you control over how your money is allocated and provides immediate access to your funds with your debit card as soon as your deposit is received. You can also set up Mobile Deposit Alerts to be notified as soon as your deposit is received.

With Huntington's Early Pay service, you can say goodbye to the payday waiting game and hello to greater financial flexibility and peace of mind. It's just one of the ways Huntington looks out for its customers.

Direct deposits and how to set them up

Direct deposits are a free, electronic transfer service that sends your paychecks or benefit checks to a bank account or prepaid debit card of your choosing.

• Get a direct deposit form from your employer: Ask for a written or online direct deposit form. If that isn’t available, ask your bank or credit union for one.
• Fill in account information: Provide the following personal and bank details:

• Bank's mailing address
• Bank's routing number
• Your account number
• Type of account (checking or savings)

• Confirm the deposit amount: You can choose to deposit 100% of the check into a checking account, but there is a benefit to splitting direct deposits. If you can put a portion, such as 20%, of your paycheck or benefit check into a high-yield savings account, you can save automatically each month.
• Attach a voided check or deposit slip, if required: Some employers use a voided check or deposit ticket to verify the account and routing numbers. If you’re asked to do this, write "VOID" across the front of a blank check, which ensures the check is unusable if it’s lost or stolen.
• Submit the form: Hand this form directly to your payroll department. If you are submitting such a form remotely, use a secure file transfer service, rather than simply emailing it.

Setting up direct deposit can take anywhere from one day to a few weeks, depending on the provider. This wait period applies every time new employees are added to the system.

Bank holidays and their impact on payroll

Bank holidays can complicate payroll, especially if your business pays staff at the end of the month. If payday falls on a bank holiday, employees will have to wait until the next business day to receive their wages. This mostly affects employees who receive their wages via direct deposit.

• Run payroll like normal: Employees will be paid after the holiday.
• Run payroll earlier: Employees will be paid before the holiday.
• Expedite the process: Employees will be paid before the holiday, but you will have to cover expedite fees.

If payday falls on a Saturday or Sunday, it is standard practice to pay employees the Friday before. If payday falls on a Sunday, employees are typically paid the following Monday.

• Be consistent: Decide whether to pay employees before or after a bank holiday and stick to that schedule throughout the year.
• Create a schedule: At the start of the year, create a payroll schedule with your HR or payroll department and distribute it to employees.
• Be clear: Remind employees of changes to the pay schedule a week before they're expecting to get paid. Share a payday calendar on your company intranet.
• Stay on track: If running payroll earlier, make sure you have all employee hours submitted in time to meet your processing deadlines.
• Plan ahead: Use an HR calendar or payroll software to keep track of approaching bank holidays.

Running payroll earlier or delaying it

Legal and Compliance Considerations:

• Federal and state laws dictate specific payroll frequencies and deadlines. Running payroll earlier or delaying it can result in non-compliance with these regulations, leading to costly fines and penalties.
• Employers are legally obligated to pay employees according to their payroll schedule. Federal law requires "prompt" payment for hours worked, and state laws often provide more specific guidelines.
• Delaying payroll can violate the Fair Labor Standards Act (FLSA) and lead to legal action and fines.
• Changing the timing of payroll may impact tax filings and payments, as payroll taxes must be remitted on time to avoid penalties and interest.

Employee Trust and Morale:

• Paying employees late can significantly damage employee trust and morale. This can lead to disgruntled employees, lower productivity, and reduced motivation.
• Employees rely on receiving their wages on time, and delays can cause financial hardship for them, especially if they are living paycheck to paycheck.
• Consistent and timely payroll helps maintain a healthy relationship between employers and employees, fostering a sense of respect and engagement in the workplace.

Operational Challenges:

• Running payroll earlier or delaying it can disrupt the symbiotic functioning of your business. It may require adjustments to time tracking, approval processes, and coordination with your accounting team.
• Early or delayed payroll can impact cash flow management, especially if invoices are not collected on time. This may require prioritising payments and managing cash outflow to ensure sufficient funds are available.
• Changes to the payroll schedule can affect other areas of your business, such as billing cycles, supplier payments, and insurance premiums.

Planning and Communication:

• Communicate any changes to the payroll schedule clearly and in advance to employees. Transparency helps set expectations and avoids confusion or uncertainty.
• Work closely with your accounting and human resources departments to plan and execute any adjustments to the payroll schedule effectively.
• Stay organised and set alerts to help you remember when to collect timesheets, run payroll, and make payments earlier than normal.
• Create a direct deposit holiday calendar and distribute a payroll schedule to employees so they are aware of any changes and can plan accordingly.

In summary, running payroll earlier or delaying it is a complex decision that requires careful consideration of legal, financial, and operational implications. It is essential to prioritise timely payroll processing to maintain compliance, preserve employee trust and morale, and avoid operational disruptions. Effective planning, communication, and collaboration with relevant stakeholders are key to successfully navigating any adjustments to your payroll schedule.

How to handle payroll when payday falls on a weekend

When payday falls on a weekend, it's standard practice to pay employees the Friday before the weekend. If payday falls on a Sunday, employees are typically paid the following Monday. This is because employees can't pick up paper checks on weekends, and direct deposits won't be posted until banks reopen.

There is no law stating that you must pay employees before the weekend if payday falls on a Saturday or Sunday. However, it is considered normal business practice.

To avoid confusion, it's important to be consistent and decide whether your company will pay employees before or after a weekend, and stick to that schedule throughout the year. Create a payroll schedule at the start of the year and distribute it to employees. Notify them of any changes to the schedule in advance.

If you're using a third-party payroll processor, work with them to clarify your processing schedule.

Frequently asked questions