Available to Basic Payroll, Full Service Payroll
Planning ahead for payroll is always best, but we understand that sometimes urgent situations arise. Using bank wires or instant payments for prefunding your payroll is our way of providing you with a flexible solution to meet your immediate payroll needs.
If you need to run payroll immediately with direct deposit and don’t have enough time for the standard ACH process to clear, our prefunding feature using a bank wire or instant payment is the perfect solution. This article explains how to use these options to ensure your employees are paid on time.
What is "Prefunded Payroll"?
Prefunding your payroll with a bank wire or instant payment is a feature that allows you to send money directly to Patriot via a bank wire transfer or instant payment by the Real-Time Payment (RTPⓇ) Network. We will apply the funds as a “prefunded payroll,” meaning you have already funded the payroll in advance before running it.
These methods are faster than ACH enabling you to process your payroll with direct deposit immediately upon the funds being applied and are suitable for both one-time urgent needs and regular use if you prefer faster processing.
When to Use Wires or Instant Payments for Prefunding Payroll
Use this option when:
You’ve sent a wire but did not complete the payroll before the 3 PM payroll run deadline for wires
You’ve completed a payroll and sent a wire but it was not run as a wire payroll
You’re a normal direct deposit customer facing a time crunch and can’t wait for ACH clearing times
You’re a “prefund” customer who has exceeded your funded payroll amount
Read more about our direct deposit timing in our help article, Direct Deposit Funding and Timing Options, with and Using Prefunded Direct Deposit.
How to use bank wires or instant payments for prefunding your payroll
Log into your payroll account
Navigate to the Settings > Payment Settings > Direct Deposit Settings
Scroll down to Option 2: Manually add funds to your prefund balance section
You can download wire transfer instructions or instant payment instructions, which include our bank details and a unique reference number.
Follow the instructions to add wires or instant payments to fund your payroll.
Indicate you have sent the payment in the software. Read our help article for more information.
Bank wires: Initiate the wire transfer from your bank using the provided information and ensure the wire transfer is received by us no later than 3:00 p.m. Eastern Time (ET).
Instant payments: Instant payments by the Real-Time Payment (RTPⓇ) Network are much faster. Once we receive the funds, you can process your payroll immediately. You will receive a confirmation email.
With either funding method, you will receive a confirmation email, and you can process your payroll immediately. For a next-day pay date, be sure to complete your payroll by 8:00 p.m. ET.
Fees for Bank Wires or Instant Payments
Fees from Patriot will appear on your next monthly software fee invoice.
BANK WIRE FEE: Patriot will charge a $15.00 wire transfer payroll funding fee. (Your bank may also charge a fee.)
INSTANT PAYMENT FEE: Patriot will charge a $5 instant payment funding fee.
Important notes
Patriot cannot accept ACH direct transfers, Zelle, or Venmo for direct deposit. A wire or instant payment must originate from a financial institution, not a money transfer service such as Western Union.
Make sure your bank supports instant payments through the Real-Time Payment Network. If it does not, you can still send us a bank wire in place of an instant payment. The ability to send Instant Payments is being continually added by banks across the U.S. There are two networks that provide Instant Payments:
Supported by Patriot: Real-Time Payment Network (RTPⓇ)
Not Supported by Patriot: FedNowⓇ
You will receive an email confirmation once we have received the funds from your bank.
Bank wire transfers are typically applied the same day but it may be the next day, depending on when you initiate the transfer. Wire transfers received after 3:00 p.m. ET may result in delayed payroll processing.
If you have funds remaining in your available balance you can use it in a subsequent payroll, or contact our support team to request the amount be returned.
Instant payments are from your bank to Patriot’s bank. Employee direct deposits are sent via the ACH network and not an Instant Payment. The soonest an employee can be paid is the next banking day if payroll is run by 8:00 p.m. ET the day before.
Need Help?
If you have any questions about using the bank wire or instant payments for prefunding your payroll or need assistance with the process, please contact our support team. We’re here to ensure your payroll runs smoothly, even on short notice.