Personal Finance

PC Financial Direct Deposit on weekends?

  • Last Updated:
  • Jul 30th, 2017 1:46 pm
[OP]
Newbie
Jul 14, 2016
3 posts

PC Financial Direct Deposit on weekends?

If my payday falls on a Saturday, does it go through? Or would it go through on Monday?
10 replies
Member
Nov 13, 2009
486 posts
210 upvotes
Ajax
Purpletunic wrote:
Jul 28th, 2017 6:35 pm
If my payday falls on a Saturday, does it go through? Or would it go through on Monday?
It goes to either Monday or sometimes companies issue payment on Friday
So it depends on who manages your payroll
Deal Addict
Jan 21, 2014
2597 posts
684 upvotes
Purpletunic wrote:
Jul 28th, 2017 6:35 pm
If my payday falls on a Saturday, does it go through? Or would it go through on Monday?
It would appear in the account on Saturday, but dated Monday. Along with anything else you do to the account, they will all be dated Monday (i.e. you can withdraw the money, pay bills, etc)
Sr. Member
Mar 3, 2015
698 posts
97 upvotes
Scarborough, ON
Dont worry OW & ODSP Direct deposits will arive tonight 29 @ 00:00am ! Lol
Deal Addict
Aug 3, 2014
4379 posts
1917 upvotes
mkl38s wrote:
Jul 28th, 2017 8:38 pm
It would appear in the account on Saturday, but dated Monday. Along with anything else you do to the account, they will all be dated Monday (i.e. you can withdraw the money, pay bills, etc)
Are you talking about PCF specifically? If you are talking about banks in general, that is not true. Some banks date every transaction on the day they happen even if it is a not a business day.
Deal Guru
User avatar
Aug 8, 2012
10198 posts
3898 upvotes
BC
Purpletunic wrote:
Jul 28th, 2017 6:35 pm
If my payday falls on a Saturday, does it go through? Or would it go through on Monday?
What company has pay days on weekends?

I thought most companies do bi-weekly on a weekday or semi-monthly on last business day before 16th (typically 15th but 14, 13, 12th if 15th is a weekend or stat) and last business day of the month.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Addict
User avatar
Mar 9, 2012
1231 posts
433 upvotes
KITCHENER
supertronic wrote:
Jul 28th, 2017 8:41 pm
Dont worry OW & ODSP Direct deposits will arive tonight 29 @ 00:00am ! Lol
What makes you think the OP is on government assistance?
Deal Addict
User avatar
Mar 9, 2012
1231 posts
433 upvotes
KITCHENER
ace604 wrote:
Jul 29th, 2017 1:26 pm
What company has pay days on weekends?

I thought most companies do bi-weekly on a weekday or semi-monthly on last business day before 16th (typically 15th but 14, 13, 12th if 15th is a weekend or stat) and last business day of the month.
I worked for a company that did semi-monthly. People got paid on the 15th and 30th of the month, except February, regardless. Cheques were ready for those days, otherwise, DD on those days. Pretty sure paying Saturday or Sunday isn't an issue. I get my child support payments, and quite often I see "SPECIAL PAYROLL ATT-GEN-FAM-SUP" on a Saturday or Sunday, post-marked for Monday of course, but there none-the-less.
Deal Guru
User avatar
Feb 24, 2008
13997 posts
4769 upvotes
Gatineau
ace604 wrote:
Jul 29th, 2017 1:26 pm
What company has pay days on weekends?

I thought most companies do bi-weekly on a weekday or semi-monthly on last business day before 16th (typically 15th but 14, 13, 12th if 15th is a weekend or stat) and last business day of the month.
My spouse gets paid semi-monthly (On the 15th and on the last day of the month). If either of those days falls on a weekend or a holiday, the payroll deposit comes in on the prior business day.

I'm assuming most semi-monthly payroll schedules would follow the same example.

djino
Deal Guru
User avatar
Aug 8, 2012
10198 posts
3898 upvotes
BC
djino wrote:
Jul 29th, 2017 4:38 pm
My spouse gets paid semi-monthly (On the 15th and on the last day of the month). If either of those days falls on a weekend or a holiday, the payroll deposit comes in on the prior business day.

I'm assuming most semi-monthly payroll schedules would follow the same example.

djino
Ya, that's my setup (same as I described but with different words :))
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Expert
User avatar
Aug 18, 2005
17333 posts
2066 upvotes
GTA West
Purpletunic wrote:
Jul 28th, 2017 6:35 pm
If my payday falls on a Saturday, does it go through? Or would it go through on Monday?
My employer alters the direct deposit in situations like this. They send out notices for us to submit timesheets 1 day earlier, as want pay to show up on Friday instead of Monday.

Top