To answer this question, it helps to know the basics of how Direct Deposit works:
- ProBenefits processes the payments and sends the file to our bank on Wednesday afternoon.
- Our bank verifies the file, then forwards it to the Federal Reserve Bank in Richmond, Virginia.
- The Federal Reserve processes the file and instructs your personal bank to credit your account for the payment amount. At the same time the money is credited to your account, it is debited from your Employer's bank account.
Based on this process, the funds should post in your account on Thursday, or Friday at the latest. Normally, the amount will show up as a "pending deposit" on the morning following the payment date unless there is an unusually high workload at the Federal Reserve Bank or other unusual factors.
For Weekly Direct Deposit, our commitment to you is "In by Friday, Out on Wednesday." This means that any valid claim we receive by Friday is processed (sent to our bank) the following Wednesday.
For Monthly Direct Deposit, we process payments the Wednesday immediately preceding the 15th which meets our promise of "In by the 5th, Out by the 15th."